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FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

eBay Find of the Day: Viper Defender from '90s TV show

As car lovers, it's always hard to find a good television show with decent cars, but what the 1990s show Viper lacked in acting, scripting and plot, it more than made up for with cool cars. For starters, the lead car was a Dodge Viper RT/10, but, on screen, it was able to morph into its "Defender" mode making it an armored coupe with a full arsenal of weapons.
Fortunately, you don't have to be a fan of the bad show to love its lead car, and if you really want one, a Defender is up for auction right now on eBay. According to the listing, this car is the real deal - not a clone - and it comes with a V8 engine (not sure what happened to the V10?) and plenty of swag and memorbilia. No word on its actual asking price, but with a day left and 42 bids already, the reserve has not been met at $133,400. The listing does add that this same car was listed at Mecum back in 2010, but did not get sold, even with a bid of $270,000.

Dodge Challenger Hellcat driver arrested hellbound at 160 mph

When fisherman catch big fish, they want the world to know about it. That's approximately how the Indiana State Police felt when they busted a 707-horsepower muscle car booking it at more than 160 miles per hour. The ISP were chuffed enough about the catch that they put out a press release titled, "160 Mile Per Hour Hellcat Tamed On The Indiana Toll Road." The Dodge Challenger Hellcat driver, J. Jesus Duran Sandoval, told the arresting officer that he was "just trying to get to Maryland." The incident began just after Trooper Dustin Eggert finished helping a stranded motorist on the toll road at about 7 p.m. Eggert was merging back into traffic when he saw the Hellcat blast past at well beyond the 70-mph speed limit, allegedly weaving through traffic and — shock! — not using a turn signal for lane changes. With a Bandit on his hands, Eggert took the role of Smokey, and just like Burt Reynolds movies, couldn't catch the offender. Seems that Indiana State Police Dodge Charger Pursuit vehicles are speed limited to 150 mph, allowing the Hellcat to pull away. Eggert radioed for officers ahead to look out for the red baron, but received an assist before other LEOs swooped in: Eggert caught up to the Hellcat 11 miles down the road when the red coupe got held up behind two semis driving next to one another on the two-lane toll road. Sandoval pulled over, admitted he was doing a little more than 160 mph, then delivered The "Maryland" Defense unfazed by the fact that Maryland was more than 500 miles from his location. Turns out that 38-year-old Sandoval, from Lake Geneva, Wisconsin, was also unbothered by driving on an expired license. The coppers took Sandoval to the LaPorte County Jail and booked him on reckless driving, bond set at $505, court date set for April 2. The ISP said this is the second time in two weeks they've busted someone doing more than 130 on the Indiana Toll Road. It's the second time in a year they've busted a Hellcat doing so — in April 2017, another pilot played Bat out of Hellcat at 158 mph, explaining his speed as a bit of show-and-tell for his friends in the car. View 142 Photos Related Video: