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FCA-Renault merger faces tall odds delivering on cost-cutting promises

FRANKFURT/DETROIT — Fiat Chrysler Automobiles and Renault promise huge savings from a mega-merger, but such combinations face tall odds because of the industry's long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. BMW's 1994 purchase of Rover, and Daimler's 1998 merger with Chrysler both made sense on paper. The companies promised to hike profits by combining vehicle platforms and engine families. Both combinations proved unworkable in reality, and were unwound. Renault and Nissan, which have been in an alliance since 1999 designed to share vehicle components, have only managed to use common vehicle platforms in 35% of Nissan's products despite an original target of 70%, according to Morgan Stanley. FCA and Renault have raised the stakes for themselves by ruling out plant closures. That increases the pressure to achieve more than $5 billion in promised annual savings from pooling procurement and research investments. The two companies have yet to fill in many of the blanks in the merger plan put forward by Fiat Chrysler. Renault's board is expected to act soon to accept the proposal, but that would lead only to a memorandum of understanding to pursue detailed operational and financial plans. A final deal and the legal combination of the two companies could take months to complete if all goes well. Pressure to cut automotive pollution is driving the latest round of consolidation. Automakers are looking at multibillion-dollar bills to develop electric and hybrid cars and cleaner internal combustion engines. Fiat Chrysler and Renault are betting they can design common electric vehicle systems, then sell more of them through their respective brands and dealer networks, cutting the cost per car. Developing all-new electric vehicles can bring more opportunities to share costs from the outset, industry experts said. "With the emergence of connected, autonomous, electric and shared vehicles, carmakers face immediate investments, so new opportunities for sharing costs have emerged," said Elmar Kades, managing director at Alix Partners. However, most electric vehicles lose money. This is a challenge for city car brands in Europe in particular. Both Renault and Fiat rely heavily on this segment for sales.

North American Car, Truck and SUV of the Year finalists revealed

The finalists for the 2023 North American Car, Truck and Utility Vehicle of the Year Awards were announced Thursday at the L.A. Auto Show. — The Acura Integra, Genesis Electrified G80 and Nissan Z made the cut in the car category. — The Ford F-150 Lightning, Chevy Silverado ZR2 and Lordstown Endurance advanced in trucks. — And the Cadillac Lyriq, Genesis GV60 and Kia EV6 advanced among utilities.  The winners will be announced Jan. 11 in Detroit.  The finalists underscored the industryÂ’s shift to electric vehicles, as all three utilities and two of the three trucks are EVs. The finalists were culled from a list of 26 semifinalists made up of three trucks, 10 cars and 16 utility vehicles that are new this year.  Notables that missed the cut include the Mercedes EQE, Subaru WRX and Toyota GR Corolla in cars; while the Honda CR-V, Kia Sportage and Rivian R1S were among the utes that did not advance. The three trucks are the only ones eligible this year and have advanced through the voting.  50 jurors who work for media outlets across North America vote three times over the course of the year to whittle down the field, which was originally 47 vehicles. Jurors also test the semifinalists at an October group event in Ann Arbor, Mich. The Honda Civic (car), Ford Maverick (truck) and Ford Bronco (utility vehicle) were the 2022 winners. Autoblog Editor-in-Chief Greg Migliore is a NACTOY juror.   Featured Gallery Ford F-150 Lightning View 48 Photos Green LA Auto Show Acura Cadillac Chevrolet Ford Genesis Kia Nissan Truck SUV NACTOY Lordstown Endurance

Chevy Volt has worst sales month since August 2011, Nissan Leaf also down

January is traditionally a time when new car shoppers take a break. For the last few years, if we isolate our focus to just the first two major plug-in cars in the US market, we see that the first month of the year was lower – often dramatically lower – than the 11 that followed. So, when you see the Chevy Volt dropped and Nissan Leaf sales figures for January 2015, don't be too surprised. The Volt sold only 542 units last month, that model's lowest since August 2011. That also represents a 41 percent drop from January 2014, and it reinforces the thought that if anyone out there is interested in a new Volt, they're going to be waiting for the new model to drop later this year. While we do expect sales to climb in February and into spring, we won't be surprised if the general Volt trend remains quiet until the second-generation arrives. On the Leaf side of the ledger, January's low sales numbers were still about twice as high as the Volt's – the Leaf sold 1,070 units last month, the lowest since February 2013 – but it did break a streak for the Japanese automaker. Usually, each month represents at least an increase over the same month a year ago, but that wasn't the case this time. In January 2014, Nissan sold 1,252 Leafs. Still, Brendan Jones, Nissan's director of electric vehicle sales and infrastructure, issued an upbeat statement: "We saw a significant increase in demand in December from Nissan Leaf customers looking to take advantage of federal and state incentives at the end of the tax year, which pulled some sales ahead. We're confident that EV sales will continue to rise over time due to increasing emission regulations and other reasons for purchase of EVs such as lower operating costs, reducing dependence on foreign energy sources, environmental concerns and a great driving experience." The numbers will tell us soon enough. News Source: General Motors, Nissan Green Chevrolet Nissan Electric Hybrid ev sales brendan jones