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FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Dodge Viper production to end after 2017

We can't say we're surprised, but we're still saddened to report that the Dodge Viper will not live on past the 2017 model year. It's had a solid 25-year run, though, and that's worth celebrating. Fiat Chrysler Automobiles does just that for the Viper's final model year, with five special editions (some of which seem less special than others, admittedly): The 1:28 Edition ACR, GTS-R Commemorative Edition ACR, VoooDoo II Edition ACR, Snakeskin Edition GTC, and Dodge Dealer Edition ACR. Instead of running through what makes each of these 2017 Vipers special, we'll direct your attention to the press release below and the images above. All but the Dodge Dealer Edition commemorate memorable Viper models of the past 25 years, and the GTS-R is probably the pick of the litter with its classic blue-on-white paint scheme. Unless you prefer to err on the side of gaudy, in which case Dodge has you (and your car) covered with Snakeskin Green. If none of these special-edition Viper models strikes your fancy but you'd still like to park a 2017 Viper in your garage, fret not. Dodge is still offering its "1 of 1" customization program for the Viper's final year of production. Finally, instead of dwelling on the past, even when that past is as exciting as the Viper's, let's choose to look to the future with the only logical question left unanswered: What's next? Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Marchionne completed Fiat-Chrysler deal from a Florida beach

Sergio Marchionne is the CEO of Fiat, which as you may have heard, has finally worked up a deal to finish acquiring the Chrysler Group after months of bargaining with the United Auto Workers and its VEBA healthcare trust, which owned just over 40 percent of the American brand. Where was Marchionne when the deal was finally hammered out? Well, not tucked away in a frigid Detroit board room until the wee hours of the morning.
Nope, one of the largest deals in automotive history was reportedly hammered out on the beach - at the home of a banker, in the Florida resort town of Vero Beach. Marchionne traveled to the home of Alain Lebec, a senior managing director at Brock Capital LLC, one of the advisory companies for the VEBA fund, where both sides met to make final arrangements in the $4.35-billion exchange. The location of the final deal, though, is nearly as remarkable as the pace with which it came about.
According to anonymous sources pinned down by Automotive News Europe, before the meeting, the two sides were meeting in Detroit as recently as December 19, which is where Fiat made one of its final revised offers. Naturally, the VEBA made a counter offer, which led Marchionne to initiate the Vero Beach meeting.