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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.

2017 Ferrari GTC4Lusso First Drive

The Ferrari FF is a monster, a four-wheel-drive bread van with a 6.3-liter V12 that people like us have adored since it arrived in 2011. It's great to drive and better to look at, a shooting brake with more power, less practicality, and a higher price tag than pretty much anything else in this shape. Ferrari has sold almost 6,000 of them, handily beating its target of 800 per year. It was a success by any measure. Its replacement, the GTC4Lusso, might sound like something out of Ferrari's mad, bad Sixties brochures, but under the skin is pretty much the same aluminum-alloy space frame of the FF. Ferrari has carefully listened to its critics on practicality, price, and power, and duly made the GTC more powerful, pricier, and not much more practical. There have been some slight stylistic adjustments. A scallop was cut into the front fender and door skins to reduce the visual weight, and the roofline has been extended, terminating in a slight spoiler at the waist, which is said to improve aerodynamic efficiency by up to six percent. It looks sharp and mean on its 20-inch five-spoke alloys, although some of the detail, such as the wing vents and the absurdly long hood, verge on the cartoonish. The basic 65-degree, 6.3-liter, quad-cam V12 stays largely the same, but has a higher compression ratio and redesigned cylinder heads and pistons, which make the fuel/air mix burn more efficiently and consequently provides 30 more horsepower. The engine shrieks to 8,250 rpm, but peak power is 681 hp at 8,000 rpm with peak torque of 514 pound-feet produced at 5,750 rpm. Top speed remains the same at 208 mph, but the 0–62 mph acceleration time comes down slightly to 3.4 seconds. US gas mileage is yet to be homologated, but the European-cycle figures improve slightly – not that you care. The engine drives a rear-mounted, seven-speed, twin-clutch transaxle and then there is that extraordinary four-wheel-drive system, which consists of a simple, helical-cut, hydraulically controlled gearbox running off the front of the crankshaft. It weighs 100 pounds and has two speeds plus reverse and a couple of Haldex-type clutches to activate each wheel when required in first to fourth gears and at speeds below 124 mph. New for the GTC is a ZF rear-steering system, a ram powered by an electric motor that pushes the rear suspension against its bushings to give a couple of degrees steering in either direction.

Petrolicious gets super Seventies in a Ferrari Dino 208 GT4

The Ferrari Dino 308 GT4 was the automaker's first sports car with a V8 mounted amidships, and that formula quickly became the Italian automaker's bread and butter. The 308 in the name denotes a 3.0-liter V8, but for the Italian market, where a tax was imposed on cars with engines larger than two liters, Ferrari decided to de-bore the V8 to avoid the tax. Thus the 2.0-liter Dino 208 GT4 was born, and New York resident Bradley Price likes his 1976 model just the way it is.
Price initially was attracted to the Bertone-styled wedge because it "fit into the whole aesthetic of the space age and of the boundless possibility of [the late 1960s and 1970s]," he says in the Petrolicious video, adding that the opening scene of the original The Italian Job struck a chord with him, and the feeling never left. With 170 horsepower on tap, the 208 isn't very quick, but, in his opinion, it has a sweeter song than the bigger V8 and the driver-centric interior is one of his favorites.
Watch Price snake the original wedge through some East Coast back roads in the video below, and, just for kicks, we've also included the opening sequence of The Italian Job.