2023 Ram 2500 Big Horn on 2040-cars

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Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.

CEO Sergio Marchionne curses FCA spokesman for emissions cheating denial

WASHINGTON — Fiat Chrysler Chief Executive Officer Sergio Marchionne reprimanded the company's top U.S. spokesman for issuing press releases about Fiat's vehicle emissions practices days after Volkswagen's disclosure in September 2015 that the German automaker had used illegal software to evade emissions tests, documents released Monday show. Lawyers suing Fiat Chrysler Automobiles in a securities case filed excerpts of an email from Marchionne to Gualberto Ranieri, then the company's U.S. spokesman, in a filing in federal court in New York criticizing him for saying that the company does not use defeat devices. "Are you out of your goddam mind?" Marchionne wrote in an email on Sept. 22, 2015, adding that Ranieri should be fired and calling his actions "utterly stupid and unconscionable." The company said in a statement on Monday it was "understandable that our CEO would have a forceful response to any employee who would opine on such a significant and complex matter, without the matter having been fully reviewed through its appropriate channels." The statement added that Ranieri's comments came just days after VW's emissions issue became public "and before a comprehensive internal review and discussions with component suppliers was possible." Fiat Chrysler was sued in 2015 along with Marchionne and other executives over claims it defrauded shareholders by overstating its ability to comply with vehicle safety laws. An amended version of the complaint filed in 2017 added claims about its compliance with emissions laws. The shareholders accused the defendants of inflating Fiat Chrysler's share price by hundreds of millions of dollars from October 2014 to October 2015 by downplaying safety concerns. They said the shortcomings materialized in 2015 when the automaker was fined $175 million by the National Highway Traffic Safety Administration, and took a roughly $670 million charge for recalls. Plaintiffs filed the excerpts seeking approval to take up to 40 additional depositions, including Marchionne's. The U.S. Justice Department sued Fiat Chrysler in May 2017, accusing it of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014. Fiat Chrysler has held numerous rounds of settlement talks with the Justice Department and California Air Resources Board to settle the civil suit, including talks as recently as earlier this month. It faces a separate criminal probe into the matter.

2020 Ram 1500 EcoDiesel Limited Drivers' Notes | Black gold

Ram didn’t have fuel economy numbers for us when we first drove the 1500 EcoDiesel, and because of that, a verdict could not be rendered. Today, thatÂ’s no longer the case. In maximum hypermiling 4x2 form, the EcoDiesel is rated at 22 mpg city, 32 mpg highway and 26 mpg combined. That puts it merely 1 mpg away from the Chevy Silverado Duramax, which achieves 33 mpg on the highway. In our testerÂ’s crew cab 4x4 configuration, it was rated at 24 mpg combined. The impressive efficiency can be attributed to the fully reworked 3.0-liter turbodiesel V6 under the hood. It makes 260 horsepower and 480 pound-feet of torque, with the full brunt of that torque being realized at a low 1,600 rpm. ItÂ’s a good thing, too, because the EcoDiesel redlines at 5,800 rpm. Towing maxes out at 12,560 pounds, and it has a payload rating of 2,040 pounds. ThereÂ’s a whole lot of truck to pull around, too. The crew cab backseat leaves enough space for even the tallest of riders to sprawl out, and the front seat is just as expansive and intimidating. As tested, our Ram 1500 was easily one of the most luxurious, expensive configurations one could possibly spec. It was done up in the highest Limited trim, which means every last premium material and feature is along for the ride. The base price was $58,660, but that doesnÂ’t mean Ram didnÂ’t find plenty of room for options. The most expensive of options happened to be the EcoDiesel engine itself, which comes in at $4,995. Yowza. Our truck also had the $3,995 Black Appearance Package, which adds an array of extras like 22-inch black wheels, a 19-speaker Harman Kardon audio system and black accents throughout the exterior. However, the 22-inch wheels were superseded by our truck's $795 Off-Road Group package that added 20-inch wheels with meatier tires, an electronic locking rear axle, multiple underbody skid plates and hill descent control. A $2,295 driver assistance package added adaptive cruise control, lane-keeping assist, a parking assistant, 360-degree camera and ventilated rear seats among other less notable features. Lesser charges like the $1,495 panoramic sunroof, $995 Multi-Function tailgate and $995 RamBox system all contributed to this truck's $75,610 final price. Senior Editor, Green, John Beltz Snyder: The interior in this Limited is busy.