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Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

2019 Jeep Renegade reveals front fascia details

Over the past few months, details of the new 2019 Jeep Renegade subcompact crossover SUV have been trickling out via spy shots. This latest batch show that the front fascia, specifically the front bumper, is getting a number of subtle changes. Among the more noticeable tweaks are the new side vents in the bumper. They've been given a triangular design. Besides offering a nice chunky look, they also encompass the turn signals. This is a cleaner, better integrated look than the current model, which just leaves those indicators in their own little spots in the bumper. The foglights have changed, too. They're now significantly larger, and sit farther inboard in the main grille in the bumper. Moving up in the fascia, we see that the Renegade is getting some new headlights. At least on this model, there's an LED daytime running light halo in the headlamps. It also has a horizontal insert that appears to house an LED headlight element just like that on the new Wrangler. We've seen other prototypes with conventional halogen reflector headlights like on the current model, and we expect they will continue to be used on lower-spec models. There aren't many other changes to see. The rear of the truck looks roughly the same, as do the flanks. From past prototypes, we know that it will continue to have a massive touchscreen option for the infotainment. There also may be a hybrid model. It could be a very mild electric-assist like that on the four-cylinder Wrangler and the V8 and V6 Ram 1500s, or it could be something more. We expect to see the new Renegade revealed by the end of the year at the earliest, and certainly by the end of the next auto show season. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2019 Jeep Renegade Spy Shots View 9 Photos Image Credit: KGP Photography Spy Photos Jeep Crossover SUV Off-Road Vehicles jeep renegade

2017 Jeep Grand Cherokee Trailhawk Quick Spin

Jeep won't come out and say it, but the 2017 Grand Cherokee Trailhawk exists to bloody the nose of the Toyota 4Runner TRD Pro. America's off-road brand hasn't built a wheeling-specific version of its Grand Cherokee flagship in years, and the last GC Trailhawk was mostly stickers and tires. It was time for a true trail-spec Grand Cherokee again. We took a quick spin (two of them, actually) in the latest Trailhawk model, which joins Renegades and Cherokees with the same badge and off-road bent for 2017. Our time was limited, and so were our initial findings. After driving on and off pavement at Fiat Chrysler's proving grounds in Chelsea, Michigan, we can tell you that on the road, this Grand Cherokee has the same refined driving dynamics as any other. As for off-roading, the capability is still somewhat of an open question. Driving Notes The suspension and off-road system tuning are what really set the Trailhawk apart from other Grand Cherokees. Jeep tweaked the four-corner Quadra-Lift air suspension to improve articulation and suspension travel, while retaining the 10.8 inches of ground clearance of lesser Quadra-Lift Grand Cherokees. Paired with the standard Quadra-Drive II four-wheel-drive system, rear electronic limited-slip diff, and 20-inch Goodyear Adventure off-road tires, the Trailhawk is not short on capability (at least on paper). Unfortunately, paper is almost where this stops. The Trailhawks we drove were pre-production models with unfinished software calibrations. The throttle on the 3.6-liter V6 Trailhawk we took on the off-road course was super touchy and hard to modulate, regardless of which Selec-Terrain off-road mode was selected. Without a reliable throttle, we were bounding over obstacles instead of negotiating them patiently. This was back in June, and Jeep's PR reps assured us at the time that the engineers knew about the oversensitive throttle and have since confirmed that the issue has been fixed for production models, which are rolling off the line in Detroit now. We're planning to get into one of those vehicles as soon as one becomes available for a full review. Like the standard model, the Trailhawk's air suspension offers more comfort than the double-wishbone front and four-link rear suspension on the 4Runner.