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Trump Administration will look 'very carefully' at FCA/Peugeot deal

WASHINGTON — U.S. President Donald Trump's administration will look very closely at the planned merger between Fiat Chrysler and Peugeot owner PSA, White House economic adviser Larry Kudlow said on Friday. The deal, announced on Thursday, would create the world's fourth-largest automaker. "We will obviously look at it very, very carefully," Kudlow said on Bloomberg. "The president has not commented on the deal ... We're not afraid of doing business with international companies, Lord knows." When asked about the 12.2% equity stake and 19.5% voting stake China's Dongfeng Motors holds in PSA, Kudlow said: "With respect to the Chinese story, we obviously are alert and on guard." The deal, which would be structured as a 50-50 merger, would create the fourth-largest global automaker with annual sales of nearly 9 million vehicles. Fiat Chrysler told employees the deal could generate synergies of 3.7 billion euros but added "these synergies are NOT based on closing plants." Fiat Chrysler declined to comment. There has been speculation Dongfeng might sell its holdings, which could help ease the deal's passage through U.S. regulators, given U.S.-Chinese trade tensions. "We will welcome a good deal. We hope it will get more production in the United States, more factories and workers and employment in the U.S. And with respect to the Chinese angle, we will take a careful look at it," Kudlow said. Fiat Chrysler said on Thursday that "teams at both companies are working to finalize discussions and reach a Memorandum of Understanding in the coming weeks."

Trump tells Detroit 3 CEOs he wants more US jobs, calls environmentalists 'out of control'

As expected, President Donald J. Trump met with top executives from FCA, Ford, and General Motors this morning as part of a larger push to generate jobs in America. "I want new plants to be built here for cars sold here!", Trump said in a tweet ahead of the meeting. Not everything said in the meeting was made public, but the President later tweeted that he had a "Great meeting with automobile industry leaders." FCA CEO Sergio Marchionne, Ford chief Mark Fields, and GM's Mary Barra all echoed the positive vibes after the meeting. In a statement, Barra called the discussion "very constructive and wide-ranging," adding that it focused on "policies that support a strong and competitive economy and auto industry," and "that supports the environment and safety." That's noteworthy, because Trump is reported to have said "I am to a large extent an environmentalist. I believe in it, but it's out of control." Fields, speaking to reporters after the meeting, said, "We're excited about working together with the president and his administration on tax policies, on regulation and on trade to really create a renaissance in American manufacturing." The Ford CEO was specifically talking about Trump's withdraw from the Trans-Pacific Partnership. "We've repeatedly said that the mother of all trade barriers is currency manipulation, and TPP failed in meaningfully dealing with that, and we appreciate the president's courage to walk away from a bad trade deal," he said. Marchionne focused on American manufacturing in his statement after the meeting. "I appreciate the President's focus on making the US a great place to do business. We look forward to working with President Trump and members of Congress to strengthen American manufacturing." Perhaps equally as interesting as what was said and who was invited are what wasn't said and who wasn't invited. Trump has been very vocal about his distaste for US automakers' plants in Mexico, but no mention was made of the North American Free Trade Agreement by Trump or any of the Detroit CEOs after the meeting. We also have to wonder if Trump plans to meet with representatives from German, Japanese, and Korean automakers that have made massive investments into American plants and produce a large number of cars in this country. Related Video: News Source: Reuters, General Motors, Fiat Chrysler Automotive, Donald J.

Fiat Chrysler wins top Total Quality Award for first time

The Strategic Vision Total Quality Awards are 20 years old in 2015, and Chrysler has never topped the awards before. Until now, that is. Fiat Chrysler takes the overall award on the corporate level with six segment leaders from Fiat, Dodge, Jeep, and Ram. The Fiat 500 won Small Multi-Function Car, the 500e won Small Alternative Powertrain, the Dodge Challenger tied at the top in the Specialty Coupe category alongside the very un-coupe Mini Cooper Countryman, the Jeep Wrangler Unlimited took the Entry SUV category, the Dodge Durango won in Mid-Size SUV, and Ram took the overall in Best Non-Luxury Brand. The accolade means FCA has gone from one segment winner in 2010 to overall victory in five years. Cars have gotten so good, says Strategic Vision, that it is harder than ever to win. In fact, says the group, 18 years ago 85 percent of all vehicle brands had more than half a problem per vehicle. This year, no brand has more than half a problem per vehicle. The organization measures "over 155 specific aspects of the customer's experience," and scores are based on input from more than 46,000 customers. Other notables in and near the winner's circle include Volkswagen and General Motors, who tied for second place on the corporate scale, one point behind FCA. The Mini Cooper Roadster scored the highest of any model, the Corvette Stingray Convertible and Coupe scored the second- and third-highest. The Chevrolet Colorado is the first domestic Standard Pickup winner in more than ten years, and the Nissan Titan carried the Full-Size Pickup category. The press release below has all the details on how winners and losers are selected, and the full list of automakers and how they finished. "The Customer's 'Total' Experience Defines Quality, Fiat Chrysler Scores Highest in Total Quality," says Strategic Vision The 2015 Total Quality Awards® SAN DIEGO, Friday, July 17, 2015 — Unknown to many, when some consumer research firms rank a car company's quality performance they often do so by simply "counting problems." In the past, this may have been acceptable, but in today's modern and efficient manufacturing world the difference between the worst brand and best brand is LESS than half-a-problem per vehicle. Thus, any "quality ranking" based on this method is severely lacking in the complete picture of the "Total" Quality experience that customers actually use to judge their product ownership.