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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.

Values snowball for legendary Tucker Sno-Cats, latest toys of the super rich

Here's a fun-sounding vehicle perfect for the cold and snow that's currently gripping much of North America. Tucker — no, not that Tucker — just marked its 75th anniversary making the Sno-Cat, its orange-painted, four-tread snow vehicles that have inspired backcountry skiers, collectors — and increasingly, the super rich. Bloomberg in a recent story writes that demand for the Medford, Ore.-based company's products is soaring on demand from the wealthy, who need a way to get to their backcountry mountain retreats. They're also in demand from collectors and gearheads who also love snow, like two anonymous collectors who are believed to have amassed more than 200 vintage Sno-Cats. The value of vintage models has reportedly tripled in the past five years to well over $100,000 for a fully restored rig. Tucker Sno-Cat Corp. claims to be the world's oldest surviving snow vehicle manufacturer, launched by E.M. Tucker in 1942 out of a desire to design a vehicle for traveling over the kind of deep, soft snow found in the Rogue River Valley of his childhood. It was four Tucker Sno-Cat machines that helped English explorer Vivian Fuchs and his 12-man party make the first 2,158-mile overland crossing of Antarctica in 1957-58. While many of the company's competitors either shuttered or adapted to serving ski resorts with wider, heavier treads, Tucker has stuck to its formula of making lightweight vehicles to travel over deep snow. Many Tuckers use Chrysler's flat six-cylinder engine, or its Dodge Hemi V8 for larger Sno-Cats, mounted rear or centrally, with basic, no-frills aluminum cabins. Sno-Cats all have four articulating tracks that are independently sprung, powered and pivoted at the drive axle. Track options come in three different types: conventional steel grouser belt track, rubber-coated aluminum grouser belt track, and one-piece all-rubber track. Steering is hydraulically controlled by pivoting the front and rear axles for smooth movement over undulating terrain with minimal disturbance of the ground cover. The company today makes 75 to 100 Sno-Cats a year for customers including the U.S. military, oil-drilling crews in cold places like Alaska and North Dakota, and utilities. But demand is so high that it's launched a profitable service reselling and refurbishing old machines. E.M. Tucker's grandson, Jeff McNeil, now head of this division, scours Google Earth for abandoned Sno-Cats rusting in backyards that he might be able to acquire and fix up.

Chrysler gets presidential in ads for 200 and 300

Many people are already tired of the candidates in the 2016 presidential race, but Chrysler's new spokesmen are two former Commanders-in-Chief that just about everyone can support – Martin Sheen and Bill Pullman. Sheen had Aaron Sorkin's writing to guarantee he always knew the right thing to say as President Josiah Bartlet on The West Wing, and Pullman fought an alien invasion from a fighter jet as president in Independence Day. Now, these former on-screen presidents help Chrysler sell the 300 and 200 in two new ads. American-est (above) lets Sheen go wild spouting meaningless patriotic aphorisms while slipping in references to the cars' features. Swerve (below) gets a little more directly political by joking about pandering to "nuts" on the fringe during the primary, but the actors still slide in a mention of the vehicles' safety tech. These spots might help Chrysler move a few more units of the 200 before the company impeaches the sedan from the lineup, and the automaker also promises more commercials with Sheen and Pullman in the coming months. We hope Pullman jokes about his fight against aliens in one of the future commercials. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. CHRYSLER PUTS ELECTION YEAR TWIST ON ITS NEW "PRESIDENTIAL" MARKETING CAMPAIGN FEATURING MARTIN SHEEN AND BILL PULLMAN Martin Sheen and Bill Pullman reprise presidential roles in series of television spots "Premium to the People" marketing campaign debuts just in time for President's Day Additional television spots in campaign series with Martin Sheen and Bill Pullman will be introduced in coming months Campaign's first two spots, "American-est" and "Swerve" feature both the Chrysler 200 and Chrysler 300 360-degree campaign to feature television, print, online, social and digital extensions February 15, 2016 , Auburn Hills, Mich. - The Chrysler brand is launching a new campaign, "Premium to the People," featuring actors Martin Sheen and Bill Pullman. The campaign will launch with two commercials – "American-est" and "Swerve" – both featuring the Chrysler 200 and Chrysler 300. A :60-second "American-est" will launch across online, in addition to the :30-second "Swerve" across both television and online, today, February 15 (President's Day). Additional television spots will roll out in the coming weeks and months. A :30-second version of "American-est" debuted across television on Sunday, February 14.