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Interested, then not: Marchionne not 'chasing' a VW merger

Update (March 15, 2017) : Automotive News reports that FCA CEO Sergio Marchionne, regarding the suggested VW and FCA merger, said in a press conference "I have no interest." He also said that he "will not call Matthias," the CEO of VW. He did add that he would be willing to entertain anything VW brings up, but he has "no intention of chasing him." Despite this, Marchionne still took a moment to reinforce his favorable stance concerning mergers and consolidation. Last week, Volkswagen's CEO Matthias Mueller effectively shut down Fiat Chrysler CEO Sergio Marchionne's idea of the two automakers merging. However, it seems Mueller has softened, if only just, to the idea. According to Reuters, the CEO said in a press conference he is "not ruling out a conversation." However, he did say that he would like Marchionne to discuss with him directly the possibility rather than to the media. Though this statement certainly doesn't mean such a merger is happening, it's far more open than when he said outright the company isn't in any talks with anyone at the moment. His new stance also indicates that there may be people (lawyers, accountants, etc.) behind the scenes working out possible ways a merger could work. And even though this new development makes the prospect of a merger between the two companies a bit less bleak, it's still a long way from the "will they, won't they" relationship between GM and FCA. FCA's pursuit of GM involved emailing CEO Mary Barra and the threats of a hostile takeover, the latter of which resulted in some awkward statements about hugs. Only time will tell if VW becomes open enough for Marchionne to talk about hugs again. Related Video:

Driving the Jeep J6, Shakedown Challenger and other Mopar concepts

Mopar has been a one-stop-shop for factory-backed performance modifications and accessories on FCA products for a long time now. You want a 707-horsepower engine for your old Plymouth Belvedere? Mopar has you covered with the Hellcrate. Maybe you want a lift and off-roading lights on that newly-bought Wrangler? Mopar can accommodate those wants (or needs, we don’t judge) as well. We get to see some of the companyÂ’s weirdest creations every now and then, but rarely do we get the opportunity to drive the FCA Mopar concepts. ThatÂ’s what made this past Woodward Dream Cruise so special: We got to rip some of MoparÂ’s finest and most recent creations up and down Woodward Avenue. Everything from a 1971 Challenger restomod to the brand-new Easter Jeep Safari J6 concept was in attendance, so letÂ’s get right to it. Mopar Woodward View 6 Photos 1967 Plymouth Hellvedere This car is near the pinnacle of what you can do with off-the-shelf Mopar purchases. It was only a humble 1967 Plymouth Belvedere before Mopar dropped the 707-horsepower supercharged V8 from the Hellcat into the engine bay. Sound ridiculous? Yeah, it is. Other parts of it are new as well, including the disc brakes. Good call. However, Mopar didnÂ’t remove the classic car charm from the entire driving experience. The steering, for example, is surely as slow and inaccurate as it was back in 1967. That doesnÂ’t help matters when youÂ’re trying to put 707 horsepower to the pavement with less-than-ideal rear rubber. Floor it in damn near any gear of the Tremec six-speed, and the front end rises straight up as the rear kicks sideways with the force of many mules. There are no electronics such as traction control or stability control to step in and wrangle the car into submission. But hey, who wants them, anyway? The question remains: Should you buy a Hellcrate engine for your classic? If money were no object, the easy answer is yes. Have at it so long as you love smoky burnouts and excessive amounts of horsepower. Just make sure you know how to deal with that much power before you stick your right foot in it.   Dodge Challenger Shakedown View 15 Photos 2016 Dodge Shakedown Challenger Concept WeÂ’re going downhill in horsepower with this restomod, but the drivability and ease of driving goes way up. Dodge showed this “Shakedown” concept at SEMA awhile back, and as with most concept cars, getting a chance behind the wheel is a special opportunity.

Fiat Chrysler, Peugeot announce merger as world's No. 4 carmaker

MILAN  — Fiat Chrysler and France's PSA Peugeot said Thursday they have agreed to merge to create the world's fourth-largest automaker with enough scale to confront big shifts in the industry, including a race to develop electric cars and driverless technologies. Italian-American Fiat Chrysler brings with it a strong footprint in North America, where it makes at least two-thirds of its profits, while Peugeot is the No. 2 automaker in Europe. Both lag in China, however, despite the participation of Peugeot's Chinese shareholder, Dongfeng, and are playing catching up in developing electric vehicles. Fiat Chrysler shares were trading up 9% at 14 euros in Milan, while PSA Peugeot shares were down 3.2% to 22.84 euros. The 50-50 merger is expected to offer savings of 3.7 billion euros ($4 billion), which the automakers expect to achieve without any factory closures — a concern of unions in both France and Italy where the carmakers have more overlap. Fiat Chrysler's strongest brands are Jeep SUVs and Ram trucks and it is focusing on relaunching its premium and luxury brands, Alfa Romeo and Maserati, with a focus on hybrid engines. It still makes smaller cars under the Fiat marquee, mostly for the European and Latin American markets. PSA Peugeot makes mostly small, city-friendly cars, family sedans and SUVs under the nameplates of Peugeot, Citroen and Germany-based Opel, which it bought in 2017. That is where the companies can expect to have the most overlap. The new company would be worth $50 billion, with revenue of 170 billion euros ($189 billion). It would produce 8.7 million cars a year — still behind Toyota, Volkswagen and the Renault-Nissan alliance, which make over 10 million each. Once a merger is finalized, PSA Peugeot CEO Carlos Tavares will be chief executive of the new company, with Fiat Chrysler Chairman John Elkann becoming chairman. Fiat Chrysler CEO Mike Manley will have a senior executive role. "This convergence brings significant value to all the stakeholders and opens a bright future for the combined entity," Tavares said in a statement. Manley called it "an industry-changing combination," and noted the long history of cooperation with Peugeot in industrial vehicles in Europe. The 11-member board will be made up of five members from each company plus Tavares, who is locked in as CEO for five years.