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PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

Watch Mitsubishi Express van bend its way to 0-star crash test rating

Mitsubishi became a champion of economies of scale when it joined the Renault-Nissan alliance in 2016, but the merger triggered at least one undesirable side effect. The Express, a badge-engineered version of the Renault Trafic van, received a zero-star crash test rating from the Australasian New Car Assessment Program (ANCAP). Released in Australia and in New Zealand in 2020, the Express was damned by the safety watchdog for lacking chest protection, a central airbag to prevent the occupants from hitting each other and an airbag for the passenger sitting in the middle of the three-person bench. ANCAP also noted the model is not available with electronic driving aids, like automatic emergency braking, pedestrian detection and lane-keeping assist. Mitsubishi Express crash test View 8 Photos Consequently, the Express scored 55% for adult occupant protection, 40% for vulnerable road user protection, and 7% for safety assist. ANCAP argued the Express is a safety hazard even to motorists not traveling in it. "The front structure of the Express presented a high risk to the occupants of an oncoming vehicle," it wrote, adding that this gave the van a penalty. It pointed out that more driving aids would have increased the rating, however. While vans often lag behind in the safety department, scoring zero stars is highly unusual, especially in 2021; the last-generation Express managed to score a one-star rating in 2011. The Toyota HiAce tested in 2019 received a five-star rating, while the made-in-China LDV G10 managed to score three stars in a 2015 crash test. In Europe, the Trafic that the Express is based on earned a three-star rating in 2015, though tests have gotten stricter since. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mitsubishi NA gets new president and CEO

Last week, we told you that Mitsubishi will be getting a new global president, with Osamu Masuko stepping aside in favor of Tesuro Aikawa. The executive changes at the Japanese automaker are hitting closer to home, now, with official word that Mitsubishi Motors North America is getting a new president and CEO, as well. Effective March 1, Ryujiro Kobashi will take over for Yoichi Yokozawa, 49, who has been in charge since April of 2011. Yokozawa is headed back to Japan, where he will assume a spot in the company's corporate planning offices.
Kobashi, 53, has been with Mitsubishi since 1983 when he was fresh out of college. Previous to taking the top job in North America, he was installed as corporate general manager of the NA office at Mitsubishi's headquarters in Japan, where he coordinated regional operations for the US, Canada and Mexico. Before that, he held posts in planning, marketing, advertising and public relations for the company.
Kobashi takes over the company's North American operations at a pivotal time, when the region is finally showing signs of life after a prolonged period of stagnation. As Automotive News notes, Mitsubishi only sold 62,227 vehicles in the US in 2013, but that figure still represents an eight-percent increase. Its crossovers, the new-for-2014 Outlander and the two-year-old Outlander Sport have been selling relatively well, and the affordable Mirage subcompact is a new arrival at dealers.