2008 Chrysler Aspen Limited on 2040-cars

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Stellantis lays off salaried workers, cites uncertainty in EV transition

DETROIT — Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and technical center in Auburn Hills, Michigan, north of Detroit. Affected workers were notified starting Friday morning. “As the auto industry continues to face unprecedented uncertainties and heightened competitive pressures around the world, Stellantis continues to make the appropriate structural decisions across the enterprise to improve efficiency and optimize our cost structure,” the company said in a prepared statement Friday. The cuts, effective March 31, amount to about 2% of Stellantis' U.S. workforce in engineering, technology and software, the statement said. Workers will get a separation package and transition help, the company said. “While we understand this is difficult news, these actions will better align resources while preserving the critical skills needed to protect our competitive advantage as we remain laser focused on implementing our EV product offensive,” the statement said. CEO Carlos Tavares repeatedly has said that electric vehicles cost 40% more to make than those that run on gasoline, and that the company will have to cut costs to make EVs affordable for the middle class. He has said the company is continually looking for ways to be more efficient. U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose from 5.8% in 2022 to 7.6%. But sales growth slowed toward the end of the year. In December, they rose 34%. Stellantis plans to launch 18 new electric vehicles this year, eight of those in North America, increasing its global EV offerings by 60%. But Tavares told reporters during earnings calls last month that “the job is not done” until prices on electric vehicles come down to the level of combustion engines — something that Chinese manufacturers are already able to achieve through lower labor costs. “The Chinese offensive is possibly the biggest risk that companies like Tesla and ourselves are facing right now,Â’Â’ Tavares told reporters. “We have to work very, very hard to make sure that we bring out consumers better offerings than the Chinese.

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.

Junkyard Gem: 1976 Chrysler Cordoba

With engine power way down and a sense of malaise settling over American roads, Detroit (and Kenosha) turned to opulent-looking personal luxury coupes on midsize platforms to lure car shoppers into showrooms. While John DeLorean's Pontiac Grand Prix started it all more than a decade before, one of the best-known of all the rococo personal luxury coupes was the Chrysler Cordoba. Today's Junkyard Gem is an early example of the Cordoba, found in a Northern California car graveyard last fall. The first generation of the Cordoba (1975 through 1979 model years) was built on Chrysler's B Platform, making it a sibling to quite a few of the most legendary Dodge and Plymouth muscle cars of the 1960s. This includes the Charger, Super Bee, Road Runner, Daytona and Superbird. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. While French and Italian cities were very popular for use as American-market car names during the second half of the 20th century, Spain wasn't completely ignored by Detroit. Ford offered the Granada, Cadillac had the Seville, and Chrysler decided to go with the ancient city of Cordoba as the namesake for its new personal luxury coupe. As native espanol mexicano speaker and longtime Chrysler pitchman Ricardo Montalban explains in the 1987 David Letterman interview above (skip ahead to 8:10), the correct Spanish pronunciation is really "CORE-doe-bah" with the emphasis on the first syllable, but Chrysler went with a spelling and pronunciation that was easier for English speakers to deal with. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. We can't talk about Ricardo Montalban and the Cordoba without watching at least one of the TV commercials that helped make the early Cordoba such a sales hit and put the term "Corinthian Leather" into everyday American discourse. Sometimes Ricardo described the leather as soft, while the terms rich and fine were applied on other occasions. This car does not have Corinthian Leather, which cost an extra $187 in 1976 (about $1,020 in 2023 dollars). Instead, it has the "Calacia velour" cloth-&-vinyl seat upgrade, which cost just $17 ($93 after inflation). The base seats were done up in "cashmere-like" cloth-and-vinyl.