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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 wants its midsize truck situation 'fixed soon'

The rumors of a midsize Ram pickup are like a metronome — sometimes in motion, sometimes dead. This week the rumor is alive, so reports Automotive News. Fiat Chrysler CEO Mike Manley admitted during an earnings call that the lack of a mid-sizer is "a clear hole in our portfolio," and that the Ram product development team is "focused on it." Puzzling that out means finding "a cost-effective platform in a region where we can build it with low cost and it still being applicable in the market." But he wants a solution found soon. During the product roadmap presentation FCA made in June last year, late CEO Sergio Marchionne said the middling pickup would be built in Mexico. That tidbit came after years of Marchionne saying the brand would get in the segment, only to have the idea shot down by Ram bosses. At the 2012 Detroit Auto Show, a year after the midsize Dodge Dakota went off the market, Marchionne said the brand would reinstate a new-generation Dakota, with a better-than-50% chance it would be unibody. In 2013, then-Ram president Reid Bigland said the chances were tiny because the numbers didn't add up. The two men got on the same page, in favor of, in 2014. In March 2016, Marchionne said, "I like that space a lot," and "It's a good space to be in." Exactly one month later, then-Ram CEO Bog Hegbloom said the idea was dead because he couldn't make a business case for it. Come early 2018, even Marchionne had joined the naysayers. He told Automobile, "We did not think it was necessary to re-enter that market after our last experience." The snag was, and remains, that a smaller truck has "a cost structure very similar to our Ram 1500. We have not found an economic way to get this done." Four months later, there's a midsize pickup on the product roadmap. Then, at this year's New York Auto Show, Ram Trucks boss Jim Morrison told us Ram had no plans yet for a smaller pickup, although the division continues to look at its options. Last September an Automotive News report forecast the truck to be built in Toledo alongside the Jeep Wrangler and Gladiator pickup. When Car and Driver asked for clarification about Toledo or Mexico, FCA pointed to Marchionne's comments referring to Mexico. It appears that's the angle Manley and his team are still trying to make work. The Saltillo, Mexico, assembly plant now builds Ram's heavy-duty trucks, but observers expect HD production to move to the U.S. to make room for the smaller pickup.

Mopar teases four of 'nearly 20' SEMA Show concepts

Yesterday it was Chevrolet. Today, Mopar has dropped some SEMA knowledge, releasing a quartet of teaser images that give us some indication of what kind of cars, trucks, and crossovers Fiat, Chrysler, Dodge, Jeep, and Ram will be showing in Las Vegas. Like Chevy, Mopar's concepts utilize both production and concept accessories, although Fiat Chrysler has gone a bit more indepth on at least one of its concepts. Immediately, the most tantalizing teaser is the one shown above. Yes, that's the back of a Challenger, and aside from the bright orange accents on the gray body, you should take notice of the badge mounted on the spoiler – yes, that says "GT AWD." To be honest, such a vehicle wouldn't be a huge shock, as both the Challenger's LX platform-mates, the Dodge Charger and Chrysler 300, are offered with all-wheel-drive options. Still, adding such a vehicle to the production cycle would give Dodge a leg up on the rear-drive only Ford Mustang and Chevrolet Camaro. Aside from that concept, FCA has also released teasers of a Ram-based concept, a 300-based concept, and what we're guessing is a Fiat 500X. We can't wait to see what the actual Fiat concept has to do with kiteboarding. As for the 300 and Ram, there's not a lot of hints on what sort of styling details they'll contain. The Chrysler has additional LED accents and what we're guessing is matte blue paint, while the Ram is based on a Hemi-powered 1500 with Rebel styling cues. This is just a very tiny sample of Mopar's final SEMA roster, which include "hundreds" of parts. There should also be a total of 20 vehicles covering all four former Chrysler Group brands, as well as Fiat. Naturally, we'll have plenty to report on each vehicle once the SEMA show kicks off in the next couple weeks.