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FCA and PSA sign merger agreement

Confirming an earlier rumor, PSA Group and Fiat-Chrysler Automobiles (FCA) signed a binding merger agreement to create the world's fourth-largest automaker. The partners hope to leverage the benefits of economies of scale as they develop new technologies and expand their global presence. The announcement ends FCA's years-long search for a partner, which nearly ended earlier in 2019 when it came close to merging with Renault, PSA's rival. It brings Fiat, Chrysler, Dodge, Ram, Jeep, Alfa Romeo, Maserati, Lancia, Peugeot, Citroen, DS, and Opel/Vauxhall under the same roof. That's a huge portfolio of brands that often overlap, but executives pledged to keep them all open, as well as all their respective factories as a result of the transaction. They're committed to making this big family of automakers work by building on each one's strengths, whether they're technical or regional. FCA and PSA jointly predicted they'll sell about 8.7 million cars annually around the globe, while posting an ˆ11 billion (about $12.2 million) profit. North America, a strong market for FCA, will provide 43% of its revenues, and 46% will be generated in Europe, where Peugeot's brands are doing better than ever. Together, they plan to achieve ˆ3.7 billion (about $4.1 million) in annual run-rate synergies. They'll notably have the purchasing power to negotiate a better price with suppliers, and they'll merge their research and development efforts where it makes sense to do so. Over two thirds of the group's annual volume will be built on two shared platforms. One will underpin about three million small cars annually, and the other will serve as the foundation for approximately three million compact and mid-sized cars. Details about these architectures haven't been made public yet, but a quick look at both companies' product portfolios reveals the small car will very likely come from Peugeot. Recent additions to its range, like the second-generation 208, are built on a new architecture named Common Modular Platform (CMP) developed with electric powertrains in mind. Meanwhile, Fiat is still making the cheeky 500 on an evolution of the platform found under the second-generation Panda released in 2003. The bigger architecture could come from FCA, however. The group's brands will share engines, transmissions, electric powertrains, infotainment systems, various sensors used to power electronic driving aids, and other components like wiring looms, but each one will retain its own identity.

Junkyard Gem: 1986 Chrysler Fifth Avenue

Chrysler started putting the New Yorker name on its top-end luxury dreadnaughts all the way back in the early 1940s. When it came time to pitch an even more exclusive New Yorker, what street did Chrysler choose for its name in 1979? Exactly. The Fifth Avenues started out as Plymouth Gran Fury siblings, then switched to the smaller M-Body Dodge Diplomat platform for the 1982-1989 model years. Here's a padded-landau-roof-equipped '86 Fifth Avenue, spotted in a San Francisco Bay Area self-service wrecking yard. Though the Fifth Avenue started life as a option package for the New Yorker, Chrysler ditched the New Yorker badging on these cars after the 1983 model year (while applying it, confusingly, to the Chrysler-badged front-wheel-drive E-Body). Perhaps this was due to certain Chrysler-demographic-terrifying developments in New York-based popular culture around that time. 1970s styling touches were still going strong in mid-1980s Detroit, and this car has lots of fake wood and button-tufted vinyl inside, with this stainless-trimmed padded landau roof outside. Mechanically speaking, it's a Dodge Diplomat, complete with 140-horsepower 318-cubic-inch (5.2 liter) V8, rear-wheel-drive, and three-speed automatic transmission. The Diplomat was a sturdy and reliable machine, but the $14,910 Fifth Avenue sticker price was a lot to pay for a Diplomat with some extra gingerbread, especially when the Diplomat listed at $10,086. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Diplomat was a very popular choice for American law-enforcement duties during the 1980s, and the chase scene from Short Time shows a slightly exaggerated depiction of its tough construction. It's a shame that the filmmakers couldn't find a way to use a Fifth Avenue instead. For 1990, the Fifth Avenue name went onto a stretched version of the front-wheel-drive K Platform, then disappeared after 1993. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "I enjoy making money... and spending it. But not foolishly." Related Video:

The Aficianauto sets his lens on Black Beauty

In the short time we've known about the works of The Aficionauto, we've become fans of the video series highlighting some of the most famous and iconic movie/television cars ever. While past episodes featured cars from 1980s movies and tv shows, the latest video shows off the 1965 Chrysler Imperial affectionately known as Black Beauty We saw the Imperial for the first time at the 2009 Comic-Con; the car actually used in the 2011 action comedy The Green Hornet.
Of the 30 cars made for the movie, host Chris Rutkowski says that Sony only preserved two, and if you're a collector of movie cars, this one is currently being sold for $165,000. Scroll down to watch as Rutkowski takes Black Beauty for a spin through Beverly Hills, CA with its assortment of exposed weapons including the hood-mounted machine guns, numerous missiles and flame thrower.