1956 Chrysler New Yorker on 2040-cars

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Fiat Chrysler's London offices will be small, with financial focus

Fiat Chrysler's decision to locate its new corporate headquarters in jolly old London won't herald a sprawling relocation effort. Instead, it's very likely that the FCA outfit will be a small one, primarily focused on finance.
The report comes from Automotive News Europe, which claims FCA's London office will employ about 50 people with backgrounds in finance. CEO Sergio Marchionne and Fiat Group Chairman John Elkann will both have offices at the corporate headquarters, as well.
ANE cites an anonymous source that claims the people employed at the London office will focus primarily on treasury operations. It's unlikely that FCA will take on any additional employees specifically for its UK offices. That said, FCA isn't likely to downsize either its Turin or Auburn Hills offices once London comes online.

Peugeot maker PSA posts record profits ahead of FCA merger

PARIS — Peugeot maker PSA Group said its profitability reached a record high in 2019 but the French carmaker forecast falling industry sales in Europe this year as it pursues its merger with Fiat Chrysler, which is strong in North America. PSA has trimmed costs in areas such as the procurement of components as it has integrated its acquisition of Opel and Vauxhall, boosting operating margins to 8.5% last year. The group, which also produces cars under the Citroen and DS brands, offset a slump in vehicle sales by selling pricier SUV models, with launches including the Citroen C5 Aircross helping to lift revenues by a higher-than-expected 1% to $81.2 billion (74.7 billion euros). That helped it stand out in a car market where some rivals including France's Renault have struggled with sliding revenues and profits, amid a broader downturn in demand. PSA's group net profit increased 13.2% to a record 3.2 billion euros, and the company increased its dividend against 2019 results to 1.23 euros per share, up 58% from 2018 levels. The carmaker was "once again very solid", analysts at brokerage Oddo-BHF said in a note, adding the results confirmed the company's "best-in-class status." However PSA forecast a 3% contraction in Europe's car market this year, by far its biggest market. The tie-up with Fiat Chrysler will help it gain exposure to that group's strong presence in North America with brands like Jeep. The two companies struck a deal in December to create the world's No.4 carmaker, to better cope with market turmoil and the cost of making less-polluting vehicles. Fiat also posted more upbeat results than most rivals this year. CORONAVIRUS WEIGHS PSA boss Carlos Tavares told a news conference that the two groups were both in good shape and well placed to face market challenges together. He said he did not expect any major regulatory hurdles to the merger, adding it had so far submitted 14 approval requests to competition authorities out of the 24 it needs. There are no immediate plans to change anything in the large portfolio of brands within the combined group, he added. However the companies still face problems this year, including the coronavirus outbreak which has paralyzed production in China and hits carmakers' supply chain. PSA said the coronavirus impact was still difficult to assess. It factories in Wuhan, at the epicenter of the outbreak, are due to reopen in the second week of March.

Chrysler reportedly showed its dealers an electric 300 replacement

The Chrysler 300 is nearly ready to retire after almost 13 years in production. Details about its successor haven't been released, but a recent report claims that the Stellantis-owned brand privately showed some of its dealers an electric model that will take the sedan's torch. Citing anonymous dealer sources, enthusiast website Mopar Insiders wrote that the yet-unnamed model takes the form of a sedan with a fastback-like roof line. Some attendees drew a parallel between the EV and the prototype shown in renderings (pictured) in 2021; others pointed out its proportions and size are reminiscent of the Dodge Charger Daytona concept, which will reach production in the coming years. Nothing is official, but we wouldn't be surprised if the Charger Daytona spawns a Chrysler; the current-generation Charger shares its basic platform with the 300, after all, and building several vehicles on the same platform is a way for carmakers to reap economies of scale. One point worth noting is that Dodge executives have confirmed the architecture that will underpin the next Charger is compatible with the straight-six engine found in several Stellantis products. If it fits in the Dodge, it's reasonable to assume it fits in the Chrysler. Dodge hasn't announced plans to offer the Charger with the straight-six engine and neither has Chrysler; executives haven't revealed what comes after the 300, though company CEO Christine Fuell told Autoblog that there are "quite a bit of new products in our roadmap." The rumor echoes an earlier report that details an alleged 300 successor due out in 2026 with battery power, between 201 and 443 horsepower depending on the variant, and an 800-volt electrical architecture for faster charging. This hasn't been confirmed, however. As of writing, the only upcoming model that Chrysler has announced is a production version of the Airflow Vision we first saw as a very futuristic concept at CES 2020, as a more realistic design study at CES 2022, and with a black finish at the 2022 New York Auto Show. Regardless of whether the 300 gets replaced and what replaces it, at least Chrysler seemingly has a future — it was skating on perilously thin ice when Fiat-Chrysler Automobiles (FCA) and PSA Peugeot-Citroen merged to form Stellantis in 2021. Greg Migliore, Autoblog's editor-in-chief, argued in favor of keeping the brand alive, and dealers pleaded that letting the 97-year-old carmaker die wasn't an option.