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Fiat-Chrysler and Peugeot unveil burgeoning Stellantis supergroup's new logo

Stellantis, the entity formed by the merger between Fiat-Chrysler Automobiles (FCA) and PSA Group, has revealed its logo. It's as anonymous as the name of what will become the world's fourth-largest carmaker. Executives explained the logo symbolizes the rich heritage of the group's founding companies, and the unique combined strengths of the new conglomerate's 14-brand portfolio. While that's certainly one way to look at it, finding an iota of heritage in the Stellantis logo requires an unusually vivid imagination. It consists of the company's name in a sans serif font on a blue background. Designers removed the horizontal bar from the letter A, and they surrounded it by four rows of increasingly small dots vaguely arranged like stars in a galaxy. Chrysler helped NASA develop and build the Mercury-Redstone rocket, but we doubt that's what the galaxy-shaped logo is trying to remind us of. Nothing about it suggests Stellantis bundles some of the oldest and best-known car manufacturers in the world. It wouldn't look out of place in an ad for a credit card company, in a brochure for a frequent flier program, or on an over-the-counter pain reliever box, and that was likely intentional. It's a corporate logo that's going to appear on pens, name tags, coffee mugs, and a wide variety of paperwork, so it doesn't need to be eye-catching or ignite excitement — it'll never show up on a car. Stellantis Charger Hellcat? Nope. Jeep Wrangler Unlimited Stellantis Edition? Not happening, either. Chrysler, Peugeot, Dodge, Opel, Vauxhall, Jeep, Alfa Romeo, Ram, Citroen, Fiat, Maserati, and the other odds and ends that will be dumped in the Stellantis melting pot will carry on with their respective identities and naming systems. Stellantis it is, then. Expect the new logo to appear on employee payrolls and other official letterheads after the $38 billion 50:50 merger is finalized. Both sides said they plan to complete the merger in the first half of 2021.

U.S. automakers unite in opposition to possible Trump vehicle tariffs

WASHINGTON — The U.S. auto industry urged President Donald Trump's administration on Monday not to saddle imported cars and auto parts with steep tariffs, after the U.S. Commerce Department sent a confidential report to the White House late on Sunday with its recommendations for how to proceed. Some trade organizations also blasted the Commerce Department for keeping the details of its "Section 232" national security report shrouded in secrecy, which will make it much harder for the industry to react during the next 90 days Trump will have to review it. "Secrecy around the report only increases the uncertainty and concern across the industry created by the threat of tariffs," the Motor and Equipment Manufacturers Association said in a statement, adding that it was "alarmed and dismayed." "It is critical that our industry have the opportunity to review the recommendations and advise the White House on how proposed tariffs, if they are recommended, will put jobs at risk, impact consumers, and trigger a reduction in U.S. investments that could set us back decades." Representatives from the White House and the Commerce Department could not immediately be reached. The industry has warned that possible tariffs of up to 25 percent on millions of imported cars and parts would add thousands of dollars to vehicle costs and potentially devastate the U.S economy by slashing jobs. Administration officials have said tariff threats on autos are a way to win concessions from Japan and the EU. Last year, Trump agreed not to impose tariffs as long as talks with the two trading partners were proceeding in a productive manner. "We believe the imposition of higher import tariffs on automotive products under Section 232 and the likely retaliatory tariffs against U.S. auto exports would undermine - and not help - the economic and employment contributions that FCA, US, Ford Motor Company and General Motors make to the U.S. economy," said former Missouri Governor Matt Blunt, the president of the American Automotive Policy Council. Some Republican lawmakers have also said they share the industry's concerns. In a statement issued on Monday, Republican Congresswoman Jackie Walorski said she fears the Commerce Department's report could "set the stage for costly tariffs on cars and auto parts." "President Trump is right to seek a level playing field for American businesses and workers, but the best way to do that is with a scalpel, not an axe," she added.

Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video: