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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.

Woodward Dream Cruise Photo Gallery | Classics and American muscle

The 2022 running of the Woodward Dream Cruise just went down, and we were there from morning to evening drinking in the sweet sights and pre-emissions exhaust fumes. Yes, it’s a little smelly on Woodward Ave. this time of year. Just like always, the Dream Cruise invites all comers to cruise their machines on Woodward from Ferndale, MI to Pontiac, MI. Everybody is invited, but the original intent of the Dream Cruise was to highlight classic American muscle cars. YouÂ’ll see plenty of those in our mega gallery above, but weÂ’ve sprinkled it with a bunch of other vehicle types, such as modern muscle and other intriguing American vehicles. Similar to years past, though, sometimes the classics arenÂ’t the most entertaining thing to look at on Woodward. ThatÂ’s why weÂ’ll have other mega galleries coming soon, highlighting the weird cars and (great) dogs of the Cruise, all the imports and exotics you can imagine and a special one for all the trucks of Woodward — perhaps even more so than in years past, the truck population on Dream Cruise day was quite high. Click through above to see all the classics you wouldÂ’ve seen had you been roadside on the day of the cruise. And if you missed this yearÂ’s event, make sure you check out what happens next year. You wonÂ’t be alone, as itÂ’s estimated that over 1 million people attend the Dream Cruise to either watch from the side of the road or to sit in the most glorious traffic jam in the world. Related video Featured Gallery 2022 Woodward Dream Cruise classics and American muscle View 160 Photos Design/Style Buick Cadillac Chevrolet Chrysler Dodge Ford GM GMC Hummer Jeep Pontiac RAM Classics Woodward Dream Cruise

Dodge Durango SRT vs. Jeep Grand Cherokee SRT | Which should you buy?

Choice is a good thing. And when it comes to high-performance sport utility vehicles, there are more choices today than ever before to tantalize buyers into showrooms. And why not? Americans love SUVs, and, while there's a stronger push to go green now than ever before in the history of internal combustion, there's still a large contingent of buyers who firmly believe in choosing the biggest, baddest, most powerful powerplant. For those buyers, the Dodge Durango SRT and Jeep Grand Cherokee SRT are two of the most potent options. But which one should you buy? They both deliver 475 horsepower and 470 pound-feet of torque to all four wheels through an eight-speed automatic transmission. They both do 0-60 in around 4.4 seconds, and both boast top speed numbers that will handily land you in jail if written on a speeding ticket. Choosing between the two, then, is a bit more nuanced than which is faster. That said, the Jeep is probably a bit quicker at the track than the Dodge. We'd wager than the Grand Cherokee SRT's 5,104-pound curb weight (versus 5,510 for the Durango SRT) and 114.8-inch wheelbase (versus 119.8) will pay small dividends in acceleration, cornering, and braking performance. So, if that's the only category by which you believe these SRT-fettled SUVs should be judged, choose the Jeep. View 17 Photos But let's get real here for a moment. As much fun as it is to wrangle a brutish ute 'round a racetrack – and trust us when we tell you it's a blast – the number of hi-po SUV owners who will ever show up at Bondurant in an SRT-badged 4x4 is probably in the single digits. So, when evaluating which of the two Hemi-powered vehicles is right for you, ultimate lap times are probably of little concern. If you're choosing between these two overpowered players, practicality is probably just as important as performance. And in that category, the Durango SRT comes out on top. For starters, the Dodge is a three-row SUV with six seats, whereas the Jeep is a two-row, five-passenger platform. Fold down the rear bench and there's 84.5 cubic feet of cargo area in the Durango, versus 68.7 in the Grand Cherokee. And if you tow, the Durango SRT's 8,600-pound max rating handily bests that of the Grand Cherokee SRT's 7,200-pound capacity. Ask yourself what's most important: performance or practicality. And then consider the price. The Dodge is nearly $4,000 less expensive than the Jeep.