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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Detroit 3 to implement delayed unified towing standards for 2015

Car buyers have a responsibility to be well-informed consumers. That's not always a very simple task, but some guidelines are self-evident. If you live in a very snowy climate, you generally know a Ford Mustang or Chevrolet Camaro might not be as viable a vehicle choice as an all-wheel drive Explorer or Traverse, for example. If you want a fuel-efficient car, it's generally a good idea to know the difference between a diesel and a hybrid. But what if it's kind of tough to be an informed consumer? What if the information you need is more difficult to come by, or worse, based on different standards for each vehicle? Well, in that case, you might be a truck shopper.
For years, customers of light-duty pickups have had to suffer through different ratings of towing capacities for each brand. For 2015 model year trucks, though, that will no longer be a problem. According to Automotive News, General Motors, Ford and Chrysler Group have announced that starting with next year's models, a common standard will be used to measure towing capacity. The Detroit Three will join Toyota, which adopted the Society of Automotive Engineers' so-called SAE J2807 standards way back in 2011.
The standard was originally supposed to be in place for MY2013, but concerns that it would lower the overall stated capacity for trucks led Detroit automakers to pass. Ford originally passed, claiming it'd wait until its new F-150 was launched to adopt the new standards, leading GM and Ram to follow suit. Nissan, meanwhile, has said it will adopt the new standards as its vehicles are updated, meaning the company's next-generation Titan should adhere to the same tow ratings as its competitors.

Ram 2500HD, 3500HD Kentucky Derby edition gives a leg up to horse owners

This year will be the 145th running of the Kentucky Derby horse race at Churchill Downs, an event and a track Ram has sponsored for the past 10 years. To celebrate the milestones, Ram's unveiled a Kentucky Derby Limited Edition of the recently introduced 2500 HD and 3500 HD. The truck maker specced equipment meant to give breeders and their crews confidence when hauling multi-million-dollar, 3-year-old Thoroughbreds. That means trailering technology like the 360-degree surround-view camera with trailer-reverse guidance, fifth-wheel/gooseneck prep, and air suspension with bed lowering. There's also Forward Collision Warning-Plus with trailer braking, and a bed step. Starting with the Limited trim, those features come as part of the Limited Level 1 Equipment Group, Towing Technology Group, and 5th Wheel/Gooseneck Towing Group. That bundle throws in the Uconnect 12-inch touchscreen radio with Sirius XM 360L and navigation, power-retracting running boards and blind-spot monitoring, too. The combined price of those packages alone is $3,885. Ram has priced the Kentucky Derby trucks at $66,890 for the 2500 HD, $68,240 for the 3500, plus a $1,695 destination fee for both. That's $2,250 more than the base price of the 2500 Limited, and just $625 more than the entry-level 3500 Limited. The extra-cost equipment doesn't end there, though. A billet-appearance grille sets the tone up front, body-colored bumpers are fitted front and rear, and a DOT safety kit gets stashed in a cubby. The interior's been dressed in black and saddle brown leather with greystone stitching and piping. Ram has capped production at 1,000 units, available in almost every configuration possible on the 2500 and 3500: Cummins 6.7-liter Turbo Diesel I-6 in standard or 1,000 foot-pound trim, 6.4-liter Hemi V8, 4x2 or 4x4, Mega Cab or Crew Cab, single rear wheel or dual rear wheel, 6-foot-4 or 8-foot bed lengths. The only exclusion appears to be that you can't order the truck in Billet Silver Metallic, one hue in the eight-strong exterior palette. If you're OK with that, then giddy up.