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Thieves stealing Dodge and Ram vehicles right off factory lots

Stellantis-operated storage lots in and around Detroit have been hit by a wave of thefts in recent weeks. Thieves are getting their hands on new, high-end models such as the Dodge Challenger Hellcat by going straight to the source, helping themselves, and driving off. Detroit news channel WDIV Local 4 reported that over half a dozen new cars and trucks have been stolen from various storage lots since the beginning of 2022. On March 10, five Ram trucks were taken from a secured facility in Shelby Township. Several more Ram trucks were stolen on March 8, and one smashed into a semi truck's trailer as it attempted to get away. On March 3, thieves took three Dodge Challenger Hellcat models from a lot in Auburn Hills. And, on February 28, a Jeep Grand Cherokee Trackhawk and a Dodge Challenger Hellcat were stolen from a lot near the Jefferson North assembly plant. Many of the vehicles that thieves are targeting cost nearly $100,000. Stealing a new car from a storage lot is reportedly easier than it might sound. Citing anonymous sources, WDIV explained that the keys are normally left inside of the vehicles while they're parked on the storage lot, waiting to be dispatched to dealers. Security guards patrol the property, yet the thieves are finding ways to sneak into the lot, hop in a car, and drive off by ramming through the gates. Stellantis told the news channel that the Sterling Heights Police Department is investigating the thefts, and that at least one of the lots is managed by a third-party company. It declined to comment on the number of vehicles stolen or the methods used because the investigation is ongoing. In the meantime, the Sterling Heights Police Department plans to send extra patrol cars to the areas around the storage lots. There's no word on whether the missing cars have been found. And, this isn't the first time that thieves have stolen new V8-powered Dodge and Ram vehicles in the Detroit area. In October 2021, thieves stole four cars from a Dodge and Ram dealership about an hour away from Detroit; one was a rare 2021 Durango SRT Hellcat. All four cars were recovered, though the Durango was stuffed into a wall. And, in May 2018, eight Ram trucks were stolen from a factory in Warren, Michigan, by thieves who got away by driving through the main gates.

Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

Fiat Chrysler posts record Q3 profit thanks to U.S. trucks and Jeep

MILAN — A rebound in car production in Fiat Chrysler on Wednesday reported record third-quarter earnings as production returned to nearly pre-pandemic levels. The Italian-American automaker, which is finalizing its full merger with French rival PSA Peugeot, reported a net profit in the three months ending Sept. 30 of $1.4 billion (1.2 billion euros). That compares with a loss of 179 million euros a year earlier. The carmaker reported adjusted earnings before tax and interest in North America of 2.5 billion euros. That offset deepening losses in Europe, Asia and at its Maserati luxury marquee. Latin America, the only other region to post a profit, saw it narrow by two-thirds to 46 million euros. “Our record results were driven by our teamÂ’s tremendous performance in North America,” CEO Mike Manley said in a statement. Overall, the carmaker said global earnings before tax and interest were a record 2.3 billion euros despite a 6% fall in revenues to 26 billion euros. Global shipments were down 3%, due largely to plant retooling in North American to produce the new Jeep Grand Wagoneer in the luxury SUV segment and the discontinuation of the Dodge Grand Caravan classic minivan. Fiat Chrysler announced earlier Wednesday that its merger with PSA Peugeot is on track to be finalized by the end of the first quarter of 2021, as planned. To meet regulatory concerns, the French carmaker is selling a small stake in a components maker to get below 40% ownership. The new automaker, to be called Stellantis, will be the fourth biggest producer in the world. Earnings/Financials Chrysler Dodge Fiat Jeep RAM Citroen Peugeot