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Marchionne emailed Barra about merger between FCA and GM

Sergio Marchionne is adamant that global automakers will have to merge to remain profitable in the near future, and he'll tell that to anyone who's listening. Mary Barra, however, is not interested. According to The New York Times, the Fiat-Chrysler chief proposed a merger with General Motors via email to his counterpart back in March. Marchionne proposed meeting to discuss the matter, but Barra and her team reportedly rejected even entertaining the idea. This of course is not the first time Marchionne has raised the idea of a merger. He masterminded the marriage between Fiat and Chrysler, and reports have since suggested further mergers with Volkswagen, Peugeot, Ford, and others – including GM's own Opel unit. Some have taken his calls for consolidation as a weakness, but Marchionne insists that his empire is in good health – and that it's the industry as a whole which is in an untenable position. According to his view, automakers around the world need to align themselves into larger groups in order to reduce redundancy in investment, development and infrastructure – the duplication of which he terms as wasteful. "It's fundamentally immoral to allow for that waste to continue unchecked," said Marchionne to the Times. "I think it is absolutely clear that the amount of capital waste that's going on in this industry is something that certainly requires remedy," he said in a conference call with industry analysts late last month following the rejected GM approach. "A remedy in our view is through consolidation." News Source: The New York TimesImage Credit: Paul Sancya/AP Chrysler Fiat GM Sergio Marchionne merger fiat chrysler automobiles

FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Abarth 695 Tributo 131 Rally celebrates Fiat's rally history

Fiat's hugely entertaining 500 Abarth left the American market after the 2019 model year, but the plucky hot hatch is alive and well across the pond. It recently spawned a limited-edition model named 695 Tributo 131 Rally that honors Fiat's past successes on the rallying scene. It's all in the name: the Tributo 131 Rally is a tribute to the 131 Abarth, which won the World Rally Championship (WRC) in 1977, 1978 and 1980, and which was driven by highly-respected pilots like Walter Rohrl. The coupe was loosely related to the regular-production 131, which was briefly sold as the Brava in the United States. It's one of the most emblematic rally cars, and it raced for the last time 40 years ago. Although it's not as absurdly eye-catching as some of Abarth's previous limited-edition model, the 695 Tributo 131 Rally is easy to spot in a parking lot. It gets Blue Rally paint, Scorpion Black accents, an adjustable rear spoiler and 17-inch wheels. You should be able to hear it, too, thanks to a Record Monza Sovrapposto exhaust system. The 131's boxy silhouette appears on the decals added to both doors. The black and white treatment continues inside, where Abarth also added Sabelt sport seats, Alcantara upholstery on the dashboard, carbon fiber accents on the steering wheel and an aluminum-look shift knob for the six-speed manual transmission. The 131-shaped logo is found on the front seatbacks and on the passenger-side of the dashboard. Abarth notes that this is its first car with so-called Easter eggs. Power comes from a 1.4-liter, turbocharged four-cylinder engine. It's the same basic engine that powered the 500 Abarth when it was sold here, but in this application its output has increased to 180 horsepower and 184 pound-feet of torque. Hitting 60 mph from a stop takes 6.7 seconds according to the firm, and the hatchback keeps accelerating until it reaches 140 mph. If you're more into winding roads, Abarth added Koni FSD shock absorbers on both axles for sharp handling. A braking system provided by Brembo keeps the power in check. Just 695 units of the Abarth 695 Tributo 131 Rally will be available worldwide, and it goes without saying that none will make the trip to the United States. Pricing in the United Kingdom starts at GBP32,325, a figure that represents about $39,900 at the current conversion rate. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.