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Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng

2018 Dodge Challenger Demon, 1970 Charger become Lego cars

As much as we all would have loved to buy one, Dodge made sure that it wouldn't be easy for everyone to own a 2018 Dodge Challenger SRT Demon. It was only built for one model year, with a total of 3,000 units, and the last one was built last summer. And even if they were still available, each one started at just under $85,000, a substantial chunk of change. But thanks to Lego, there's a comparatively cheap way to get a new Demon: in tiny brick form. The toy company has added another kit to its Speed Champions line featuring a yellow Challenger Demon. Since the Speed Champions cars are quite small, it's a somewhat rough facsimile of the car, but it's still instantly recognizable. It's blocky, it has a big hood scoop and fat fender flares. It also has two sets of wheel covers to customize it. This kit has an advantage over a real Demon, too: it comes with a second car. The other one is a 1970 Dodge Charger in black. This is an even more faithful rendition, thanks in part to the real car's ruler-straight lines. It doesn't have customizable wheels, but you can choose whether to leave it stock, or stick on a little replica of a supercharger and hood scoop that poke through the hood. It ends up looking like Dominic Toretto's Charger from The Fast and the Furious. Besides the second car, the kit features a drag strip starting tree. It doesn't light up, but it does have a slider on the back that lifts up each set of colored bricks as it's pressed down. So you can have little drag races with the two cars. In total, everything is built with 478 pieces, and it will cost you $29.99. The kit is available now wherever Lego kits are sold, and even at the Dodge merchandise website. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Pontiac Aztek enjoys rebirth thanks to Millennials

Apparently, Millennials – those between 18 and 34 – aren't afraid to look different on the road, and they like performance, too. A new study by Edmunds is discovering some surprising vehicle choices by this group. Among them, the long-derided Pontiac Aztek is getting a new day in the sun with 25.5 percent its buyers coming from this generation in the first half of 2015. For comparison, Millennials represent an average of 16.8 percent of used car purchases. The Aztek is slowly shaking its reputation as a styling abomination, which seems tied to its appearance on Breaking Bad. The show premiered in 2008, and the Pontiac has been on this list for four of the past five years, according to Edmunds. It even led the pack in 2010. A recent Retro Review from MotorWeek also showed that the crossover wasn't always so hated. While it's still a shock to see the Aztek on any popularity list, the awkward-looking crossover only ranks sixth among Millennials. The vehicle with the biggest portion of buyers from the generation is the Dodge Magnum with 27.6 percent. According to Edmunds, the bluntly styled wagon is especially popular in Detroit and Chicago. The Chrysler Pacifica comes in a close second at 27.3 percent. When it comes to used cars, value and utility appear to trump just about anything else for many Millennial buyers," Edmunds analyst Jeremy Acevedo said in the report. Young buyers aren't afraid of sporty rides, either. The Subaru WRX has 26.4 percent Millennial buyers to rank third place on the list, and the Volkswagen R32 takes fifth at 25.7 percent. Just a few points lower in seventh place is the Nissan GT-R at 25.4 percent, and the final performance machine in 10th place is the Lexus IS-F with 24.7 percent. Related Video: