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Auto Mergers and Acquisitions: Suicide or salvation?

We love the Moses figure. A savior riding in from stage right with the ideas, the smarts, and the scrappiness to put things right. Alan Mullaly. Carroll Shelby. Lee Iacocca. Andrew Carnegie. Steve Jobs. Elon Musk. Bart Simpson. Sergio Marchionne does not likely view himself with Moses-like optics, but the CEO of Fiat Chrysler Automobiles recently gave a remarkable, perhaps prophetic interview with Automotive News about his interest and the inevitability of merging with a potential automotive partner like General Motors. Marchionne has been overtly public about his notion that GM must merge with FCA. For a bit of context, GM sold 9.9 million vehicles in 2014, posting $2.8 billion in net income, while FCA sold 4.75 million units and earned $2.4 billion in net income, painting a very rosy FCA earnings-to-sales picture. But that's not the entire picture. Most people in the auto industry still remember the trainwreck that was the DaimlerChrysler "merger" written in what turned out to be sand in 1998. It proved to be a master class in how not to fuse two companies, two cultures, two continents, and two management teams. Oh, it worked for the two individuals at both helms pre-merger. They got silly rich. And the industry itself was in a misty romance at the time with mergers and acquisitions. BMW bought Rolls-Royce. Volkswagen Group bought Bentley, Bugatti, and Lamborghini, putting all three brands into their rightful place in both products and positioning. No marriages there, so no false pretense. Finally, Nissan and Renault got married in 1999. A successful marriage requires several rare elements in this atmosphere of gas fumes and power lust. But a successful marriage requires several rare elements in this atmosphere of gas fumes and power lust, the principle part being honesty. Daimler and Chrysler lied to each other. The heads of each unit, the product planners, and finance all presented their then-current and long-range forecasts to each other with less-than-forthright accuracy. Daimler was the far greater equal and no one from the Chrysler side enjoyed that. The cultures were entirely different, too, and little was done to bridge that gap. Which brings me back to the present overtures by Marchionne to GM. "There are varying degrees of hugs," Marchionne stated in the Automotive News piece. "I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you." Seriously?

Subaru Impreza WRX, Dodge Charger police car from 'Baby Driver' are for sale

Fans of " Baby Driver," now is your chance to own some seriously cool bits of movie memorabilia. Allpro Subaru is currently selling two of the cars from the film. The first is one of the red Subaru Impreza WRXs that were used for some of the film's signature stunts, which made the red rally sedan the de facto hero car of the movie. There were a number of stunt cars used to represent the hero car, including a modified WRX and an STI with a WRX wing. This particular one, a 2006 model, is a little more interesting, as it was the one that was converted to rear-drive to make it easier to complete stunts with it. According to the description, it also has a turbocharger from a 2004 STI to make more power, which fits what stunt driver Jeremy Fry told us. The description reveals other interesting tidbits. The car does have a clean title and has 158,000 miles on it. Obviously some of those miles were a bit rough, and the description notes that the stunt driving has led to some cosmetic defects. The AutoCheck vehicle history report reveals more. Apparently this Impreza WRX led a rough life before filming, as it had four mild to moderate crashes reported. It also appears that it will need the Takata airbag replaced. But on the plus side, this car is a unique piece of car and film history, and its rear-drive layout should make it interesting to drive. On top of that, it also has a leather interior that appears to be in good shape. View 5 Photos You'd better have a healthy bank account before trying to buy this WRX. As of writing, the bidding has reached $40,300. If that's too pricey, though, Allpro Subaru has yet another car from the movie. It's a 2011 Dodge Charger police car in Atlanta, Ga. police livery, complete with a V8. It's also pretty thoroughly wrecked, though the description says that it is drivable. Based on the bullet holes in the windshield, the Charger appears to be the one used in the (mild spoiler alert) final showdown between Baby and Buddy. But because this car is much less famous and in far worse shape, it's also much cheaper. Bidding has only reached $3,000 at the time of writing. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2006 Subaru Impreza used in Baby Driver News Source: eBay / Allpro Subaru via JalopnikImage Credit: eBay / Allpro Subaru TV/Movies Dodge Subaru Auctions Police/Emergency Performance Sedan impreza wrx baby driver

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall