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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

JL Jeep Wrangler experiencing death wobble, NHTSA checking into it

The redesigned 2018 JL Jeep Wrangler is selling remarkably well, but it looks like it's still susceptible to age-old Jeep solid front axle vehicle issues. Recently, the NHTSA has received 11 JL Wrangler-specific complaints for a problem referred to as "death wobble" in the Jeep community. It's currently looking into the complaints to see if further action is necessary. Death wobble is a term used predominantly by Jeep and specifically Wrangler owners to describe a violent steering wheel oscillation, typically caused by hitting some form of bump or pothole at higher speeds. For it to occur, there has to be something loose or damaged within the front steering or suspension system. The death wobble gets its name, because the vibrations through the steering wheel are far more frightening than any kind of a wheel imbalance problem. However, using the word "death" would be a misnomer as well, because there are no reported deaths due to the issue over decades of Jeeps experiencing the issue. A little over a month ago, FCA decided it needed to recall 18,000 JL Wranglers because of a faulty weld around where the track bar is welded to the frame. As of now, there's no evidence linking this faulty weld with death wobble (an FCA spokesperson told us as much), but one of the most common causes of death wobble is a track bar issue. If a bad track bar weld is your problem, you're in far worse shape than any death wobble, because you'll end up with a complete loss of steering. We asked Jeep about death wobble and a company spokesperson said that it "is not a widespread condition, nor is it a safety issue." FCA also said most of the incidents are linked to poorly installed suspension modifications, such as a lift-kit. However, the most current complaints for JL Wranglers describe unmodified and recently purchased vehicles. This means some vehicles still experience the issue despite being stock Wranglers. For now, if you experience the death wobble in your new Jeep, it's best to slow down immediately in a safe place. Most are taken by surprise by the sudden oscillations from the wheel, but you should still be able to control the car. FCA says that even if you do experience the issue, it is routinely corrected on its own. We'll keep tabs on this, and update if there are any developments. Related video:

Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.