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Merged PSA and Fiat would retain all brands, Tavares says

By Elisa Anzolin and Gilles Guillaume PARIS/TURIN, Italy (Reuters) - Peugeot maker PSA Group and Fiat Chrysler would retain all of their car brands if their planned $50 billion merger goes ahead, the would-be chief executive of the combined group said on Friday. PSA CEO Carlos Tavares, seen as the architect of PSA's turnaround and in line to take the operational helm in the Fiat tie-up, said in a TV interview that the companies complemented each other well geographically and in terms of technology and brands. FCA derives 66% of its revenue from North America compared with only 5.7% for PSA, Refinitiv Eikon data shows. Europe remains the main revenue driver for PSA. "There's no doubt it's a very good deal for both parties. It's a win-win," Tavares told France's BFM Business, in his first interview since the French and Italian companies announced plans to create the world's fourth-largest auto maker last week. Fiat Chrysler (FCA) Chairman John Elkann, who would chair the combined group, said on Friday at an event in Turin that the 50-50 share merger would help the Italian carmaker "seize great opportunities." The deal, which would help the firms pool resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as counter a broader downturn in car markers, is still at an early stage. PSA and Fiat have said they aim to reach a binding outline in the coming weeks, but still face questions over potential job losses, as well as scrutiny over whether the transaction favors one party more than the other. Tavares said the brands that would come under the combined group's umbrella — PSA's five passenger car nameplates include Citroen, Vauxhall and Opel, while FCA has nine, including Fiat, Alfa Romeo, Maserati, Chrysler, Dodge and Jeep — were all likely to survive. "As of today, I don't see any need to scrap any of the brands if the deal came to pass. They all have their history and their strengths," Tavares said. Few carmakers have as large a portfolio, with German rival Volkswagen Group counting 10 passenger brands, if newer Chinese ones such as electric vehicle label Sihao are included. The merger will also require approval from anti-trust authorities. Tavares said he did not expect the companies to have to make major concessions to meet competition rules, but added they were ready to do so, without giving details.

Automakers are putting pancakes in your car, when all you want is a parking spot

The Dashboard Act was introduced June 24 in Congress by Sens. Mark Warner, D-Va., and Josh Hawley, R-Mo. Its name notwithstanding, it isn’t about cars. Rather, “Dashboard” is an acronym for “Designing Accounting Safeguards to Help Broader Oversight and Regulations on Data.” The purpose of the act is to make sure that companies disclose to consumers how their data is being used by companies like Facebook and Google — how their data is being monetized. Oddly enough, the Dashboard Act does have something to do with automotive companies, too. Why? Because OEMs have determined that people have plenty of time on their hands when driving — much of which is just sitting in traffic (according to the 2018 INRIX Global Traffic Scorecard, U.S. drivers sit for an average of 97 hours last year). So what better thing to do than shop? And presumably, like credit-card companies, theyÂ’re benefiting from facilitating commerce. Coincidentally, also on June 24 FCA announced it is launching Uconnect Market, an in-vehicle commerce platform. Explained Alan DÂ’Agostini, FCA's global head of connected services, “Our customers live busy lives, and our goal with the Uconnect platform is to provide an advanced portfolio of services to make their daily drive more convenient, productive and enjoyable. “This is why we are launching Uconnect Market, as we continue to ramp-up our connectivity efforts around the world with the goal of having all new FCA vehicles connected by 2022.” Uconnect Market, which will begin rolling out this year, allows people to buy things like DominoÂ’s Pizza and Shell gasoline and make reservations through Yelp via the touchscreen in the vehicle. This is similar to GMÂ’s Marketplace, which it introduced at the end of 2017. This allows you to order from ApplebeeÂ’s, Starbucks, TGI Fridays, ExxonMobil, Wingstop, and even book travel on Priceline.com. And in keeping with the third company in the Detroit Three, Ford offers the Amazon Alexa App, which provides a variety of functions from controlling smart devices in oneÂ’s home to, for Amazon Prime members (of which there are estimated to be more than 100 million in the U.S.), ordering organic kale from Whole Foods. All through your dashboard. Earlier this year at the Mobile World Congress in Barcelona, BMW Group introduced “BMW Natural Interaction,” a system that combines voice, gestures and even gaze to interact with the vehicle.

FCA cuts powertrain warranties to 60k miles

FCA US is cutting back the mileage of its powertrain warranty on some 2016 model year vehicles. Rather than the current five years/100,000 miles of coverage, the new amount is five years/60,000 miles for gasoline-fueled models from Chrysler, Jeep, Dodge and Ram. In March 2015, General Motors made a similar switch to five-years/60,000-miles of coverage for Chevrolet and GMC, and FCA US seems to be citing this as part of the reason for the shift. "Following changes already made by competitors, FCA US is adjusting powertrain warranty coverage for 2016 model year vehicles to be more consistent with industry practices," the automaker said in a portion of its statement. The bumper-to-bumper warranty for these vehicles is unchanged at three years/36,000 miles. According to Automotive News, Fiat's warranty is remaining at four years/50,000 miles. When it changed the mileage limit, GM also halved the number of free service visits for Chevy, GMC, and Buick to two from the previous four. The automaker claimed that the reason for the adjustments to its coverage was that a long warranty was seldom a reason for customers to buy a vehicle. Related Video: Response to Query: 2016MY Powertrain Warranty Adjustment Following changes already made by competitors, FCA US is adjusting powertrain warranty coverage for 2016 model year vehicles to be more consistent with industry practices. For 2016MY, Chrysler, Jeep®, Dodge and Ram Truck vehicles with gasoline engines will be covered by a 5 year/60,000 mile powertrain warranty. The basic coverage, also known as "bumper to bumper," remains at 3 years/36,000 miles. # # # News Source: FCA US, Automotive News - sub. req.Image Credit: Mark Ralston / AFP / Getty Images Chrysler Dodge Jeep RAM Car Buying Maintenance Ownership FCA warranty fca us powertrain