2005 Chrysler Pacifica Touring on 2040-cars

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FCA-Renault revival may hinge on willingness to cut Nissan stake

Fiat Chrysler Automobiles and Renault are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker's alliance partner Nissan, according to several sources close to the companies. Nissan is poised to urge Renault to significantly reduce its 43.4% stake in the Japanese company in return for supporting a FCA-Renault tie-up, two people with knowledge of its thinking also told Reuters. It is still far from clear whether any concerted effort to revive the complex and politically fraught deal can succeed. FCA Chairman John Elkann abruptly withdrew his $35 billion merger offer in the early hours of June 6 after the French government, Renault's biggest shareholder, blocked a vote by its board and demanded more time to win Nissan's backing. Nissan representatives had said they would abstain. The failure, which FCA and Renault blamed squarely on the French government, deprived both companies of an opportunity to create the world's third-biggest carmaker with 5 billion euros ($5.6 billion) in promised annual synergies. It also shone a harsh light on Renault's relations with Nissan, which have gone from frayed to fried since the November arrest of former alliance Chairman Carlos Ghosn, now awaiting trial in Japan on financial misconduct charges he denies. REVIVAL TALKS Italian-American FCA — whose brand stable encompasses Fiat runabouts, Jeep SUVs, RAM pickups, Alfa Romeo luxury cars and Maserati sports cars — has so far turned a deaf ear to suggestions by French officials that its merger proposal could be revisited. But since the breakdown, Elkann and his French counterpart Jean-Dominique Senard have had talks about reviving the plan that left the Renault chairman and his Chief Executive Thierry Bollore upbeat about that prospect, three alliance sources said. Renault and a spokesman for FCA declined to comment. One of Elkann's senior advisors on the Renault merger bid, Toby Myerson, was expected at Nissan headquarters in Yokohama on Monday for exploratory discussions with top management, two people with knowledge of the matter said. Nissan CEO Hiroto Saikawa is likely to attend. Myerson did not respond to a message from Reuters seeking comment. The meeting comes amid mounting strains that may preclude compromise, after Senard warned Saikawa that Renault was prepared to block key Nissan governance reforms in a dispute over board committees.

Junkyard Gem: 1990 Chrysler New Yorker Landau Mark Cross Edition

The hallowed American tradition of the cushy, softly-sprung sedan with padded vinyl landau roof and puffy upholstery had its heyday in the 1960s and 1970s, but you could buy such cars well into the 1990s. Even after Lee Iacocca's modern front-wheel-drive K-Cars appeared in the early 1980s, "traditional" Detroit luxury cars based on the K platform continued to be built by Chrysler for quite a while. A great example of this is the 1983 to 1993 Chrysler New Yorker, which managed to mix up the philosophical concepts behind the plush-yet-affordable 1970 Chrysler Newport with the space-efficient, lightweight Iacocca Era in one machine. I found one of these, a 1990 New Yorker Mark Cross Edition in a Northern California yard, and I wish to share its resplendence with you as today's Junkyard Gem. Lee Iacocca wanted Chrysler-badged cars to seem like Mercedes-Benzes (a little earlier, Ford had the same idea with the Granada), but at one-third the cost, and so we saw these "crystal-pentastar" hood ornaments for quite a few years in the middle 1980s through early 1990s. While Ford had deals with Cartier, Pucci, Bill Blass and Givenchy to sell "designer edition" cars, Chrysler went with leather-goods king Mark Cross. The base MSRP for the 1990 New Yorker Landau was $19,509, and the Mark Cross Edition package tacked on an additional $2,069 to that cost (that's like getting a $4,565 option package on a $43,050 car, when figured in 2022 dollars). For that price, you got power everything: a digital instrument cluster, a bunch of extra body moldings and interior goodies, and throne-like seats swathed in vinyl and Mark Cross leather (which, I'm just guessing, could not be distinguished from the famous (infamous?) Corinthian Leather of this car's Cordoba predecessors). Padded landau roofs were big in the 1970s and fairly deep into the 1980s, but had long fallen out of favor with the under-80 set by 1990. Still, Chrysler was proud of its landaus, and this car has big badges inside and out to prove it. By 1990, most luxury cars came standard with at least an AM/FM stereo radio, and that's what this car has. If you wanted to play cassettes, you'd have to pay at least an additional $254 (about $560 today). The 1990 New Yorker belonged to the extended K-Car family, living on the same platform as the very similar-looking Dodge Dynasty. The only engine available for this car in 1990 was the 3.3-liter Chrysler V6, rated at 147 horsepower.

Share price falls on skepticism of Chrysler-Fiat five-year plan

Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.
Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.
The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.