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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.

Ram recalls 2014-2019 1500 EcoDiesel trucks for coolant leaks

Ram will recall 108,000 Ram 1500 EcoDiesel pickup trucks in the United States for coolant leaks tied to reports of some fires and four minor injuries. Another 50,000 trucks will be recalled in Canada, and fewer than 2,000 sold in markets outside of North America. The recall covers trucks from the 2014 through 2019 model years. The automaker said it found microscopic cracks in some Exhaust Gas Recirculation coolers through dealer-service reports and "other data streams." Such cracks may allow coolant to "escape and – in rare circumstances – pose an engine fire risk." The injuries occurred when customers attempted to manually extinguish engine compartment fires. FCA said it is not aware of any crashes tied to the recall. The automaker will alert owners when they can get recall repairs. Until then customers should monitor coolant levels and contact dealers if they are consistently low. The recall does not affect the redesigned, current-generation Ram 1500, nor any gasoline-powered Ram 1500 from any model year. Customers with questions or concerns may call 1-800-853-1403.

2022 Ram 1500's G/T package reportedly includes Mopar goodies

Ram will fill the gap between the Hellcat-powered, 702-horsepower TRX and the rest of the 1500 range with an option package called G/T, according to a recent report. It will allegedly make its debut for the 2022 model year. Enthusiast website Mopar Insiders learned from unnamed sources that the G/T package will be available on the Sport, Rebel, and Laramie models. While it won't send shivers down the TRX's spine, it will add a cold-air intake system from the Mopar catalog, a 3.92 rear axle, and a specific exhaust system. G/T-only exterior decals and what Ram refers to as a Sport Performance Hood (likely one with a vent) will add a sporty touch to the design. Inside, G/T-spec trucks will ditch the standard 1500's knee-high shift dial in favor of a TRX-like console-mounted gear selector and shift paddles. Leather on the steering wheel, a floor console, power-adjustable front bucket seats, LED footwell lighting, and package-specific trim pieces are also on the list of upgrades included in the bundle. There's a memory function to save your preferred seat, radio, and mirror settings, too. But, if you can't find a comfortable position by moving the eight-way driver's seat, you'll be able to electronically adjust the pedals as well. What remains to be seen is how much Ram will charge to add the G/T package to a Sport, Rebel, or Laramie truck. It hasn't announced that the bundle is on its way, let alone revealed pricing information or availability. If the report is accurate, we expect that additional details about the 1500's sportier sibling will emerge in the next few months. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.