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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.

Dodge could resurrect the ACR nameplate on a track-hungry Challenger

Dodge will reportedly celebrate the Challenger's 50th birthday by introducing a track-focused variant of the coupe that will resurrect the American Club Racer (ACR) nameplate. It will arrive as a cocktail of the automaker's best race-bred parts, including bits and pieces sourced from the defunct Viper. The Challenger ACR will be presented as a follow-up to the sold-out Challenger Demon available during the 2018 model year. While Dodge developed the 840-horsepower Demon for drag racing, it's designing the ACR to tackle America's windiest road courses, according to anonymous sources who spoke to website Mopar Insiders. It will need to take a turn, not just go really fast in a straight line. To that end, Dodge will give its popular muscle car more downforce by adding a full body kit that will include a huge adjustable rear wing shaped like the one fitted to the Viper ACR. The racer will be based on the Widebody variant of the Challenger, which handles considerably better than its narrow-bodied sibling, and it will rely on composite materials like carbon fiber to keep weight in check. In other words, it will receive more extreme modifications than the Challenger SRT8 ACR that Dodge introduced during the 2011 SEMA show but never approved for production. If this configuration sounds familiar, it's likely because the carmaker sponsors an independent team named Wesley Motorsports, which races a Hellcat Redeye all over America. It features an adjustable suspension provided by Blistein, slick Toyo tires, and a supercharged, 797-horsepower V8. The Challenger ACR described by Mopar Insiders sounds a lot like the one Wesley Motorsports regularly enters in hill climbs and time attack competitions (pictured). Coincidence? It's too early to tell for sure. Dodge hasn't commented on the report, and it hasn't announced what it has in store for the Challenger's 50th anniversary. The original Challenger made its debut in late 1969, and it arrived in showrooms during the 1970 model year, so Dodge will need to unwrap its surprise before the start of the 2021 model year to keep it timely. Expect an announcement during the first half of 2020. While pricing information remains a mystery, Mopar Insiders added the Challenger ACR will come standard with only a driver's sat. Buyers will be able to add a passenger seat for $1.

Barracuda's Dodge branding no biggie, but what about engines?

Rumors about a revival of the Barracuda nameplate have been circulating for years now, though which brand it might fall under has been a bit of a mystery. Initial speculation had the car labeled an SRT product, but that acronym has since returned to its former role as a sub-brand for top-performance Mopars. Thanks to leaks from a recent FCA dealership event, we know the Barracuda is back on the table but will be sold under the Dodge umbrella, a move that has been generating a bit of ire from Pentastar fanatics, as the car was originally part of the defunct Plymouth brand. Given what's known about the new model, however, the badge is the least of my concerns about the new car. Let's start with the re-branding itself. This isn't the first time Chrysler has shuffled models around to different brands. The current-generation Viper spent two years as the flagship model under the SRT banner, only to return to Dodge for 2015 when SRT resumed its former role as a sub-brand. Years ago, the Neon was sold as a Plymouth, a Dodge, and a Chrysler model, depending on where you shopped for one. When Plymouth ceased to exist, the last few years of Prowler production got Chrysler badges instead. Then there's the new Jeep Renegade, a model whose name was born out of a trim level. The Barracuda might not turn out to be a muscle car in the way we currently define them. Further examples of naming liberties taken throughout automotive history could fill a book, but suffice it to say that these days a model's name has very little to do with the vehicle itself or any legacy it might have. The Barracuda name might be a particularly sacred cow with enthusiasts, but to me, a much bigger concern is the fact that the car might not turn out to be a muscle car in the way we currently define them. News from the Fiat Chrysler dealer briefing earlier this week indicates that when the next Charger debuts it will share its platform with the Barracuda, much the way the Charger and Challenger are twinned now. One difference is that the Barracuda is tipped to be offered as a convertible, while the modern Challenger is tintop-only. The Charger and Barracuda will use the rear-drive platform developed for Alfa Romeo's new Giulia, itself designed as a BMW M3 fighter both from a dimensional and dynamic standpoint; the Barracuda is expected to be slightly smaller than the current Challenger.