2005 Chrysler Town & Country Limited on 2040-cars

Auto blog

Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.

Marchionne says no offers are on the table for Fiat Chrysler

MONZA, Italy (Reuters) - Fiat Chrysler (FCA) has not received any offer for the company nor is the world's seventh-largest carmaker working on any "big deal", Chief Executive Sergio Marchionne said on Saturday. Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company's business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: "No." The company's share price jumped to record highs last month after reports of interest for the group or some of its brands from China. China's Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker. The stock move was also helped by expectations that the company might separate from some of its units. Marchionne reiterated on Saturday that FCA was working on a plan to "purify" its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. "There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things," he told journalists. Asked whether an announcement could come this year, Marchionne said it was up to the board to decide and that it would next meet at the end of September. He said the time was not right for a spin-off of luxury brand Maserati and premium Alfa Romeo and the two brands needed to become self-sustainable entities first and "have the muscle to stand on their feet, make sufficient cash". "The way we see it now, it's almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase," he said. "It's the wrong moment, we are not in a condition to do it." He said the concept of separating the two brands from FCA's mass market business made sense and did not rule out this happening in future, but not under his tenure, which lasts until April 2019. "If there is an opportunity in future, it would certainly happen after I'm gone. It won't happen while Marchionne is around," he said.

Junkyard Gem: 2001 Chrysler Voyager

When a car brand gets the axe from its owners, it's not as easy as flipping a switch. Sometimes models of that brand still sell enough to be worth carrying on under the original name. That was the difficulty presented by the deletion of the Plymouth marque by Chrysler after the 2001 model year; sales of the Plymouth Neon could continue here (for a few more years) with Dodge badges, as had been the case all along, but what about the still-popular Plymouth Voyager minivan? As the most proletarian of the Town & Country/Caravan/Voyager minivan triumvirate, the Voyager name had been on Plymouth minivans since 1984 and on full-sized Plymouth siblings of the Dodge Tradesman/Sportsman since 1974. So, when an updated Chrysler minivan arrived for the 2001 model year, the Voyager name lived on — briefly — as the lowest trim level of Chrysler-badged minivans. Here's one of those rare machines, found in a Denver boneyard recently. For the 2001 through 2003 model years, the Dodge Caravan lived in the middle of the Chrysler Corporation minivan prestige pyramid, flanked by the Chrysler Voyager below and the Chrysler Town & Country above.  In the European market, of course, Chrysler Voyagers (and Chrysler Neons) were sold for decades. Trivia fans might also recall the Lancia Voyager and Chrysler Grand Caravan, both available for a while in the European market. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In fact, the idea of a Lancia Voyager seems sufficiently amusing that we should watch a Dutch-language advertisement for it right now. This is the pushrod 3.3-liter V6 engine, originally developed as a more powerful alternative to the Mitsubishi V6s that went into so many Chrysler vehicles during the 1980s and 1990s. This one was rated at a respectable 180 horsepower. You could get a manual transmission in US-market Voyagers and Caravans through the 1995 model year, but the days of three-pedal Chrysler minivans were long gone for American car shoppers by the dawn of our current century. So, it's a gem from a historical standpoint but not exactly the sort of vehicle that inspires the howls of outrage from enthusiasts over, say, a discarded Lotus Esprit or Jensen Interceptor. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.