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Stellantis to halt production at Melfi, Italy, car plant in April, union says

MILAN — Carmaker Stellantis will halt production at its plant in Melfi, southern Italy, April 2-12 because of low demand triggered by the COVID-19 crisis, the UILM union said on Monday. Production at the plant, where the world's fourth largest automaker makes Jeep Renegade and Compass models and the Fiat 500X compact SUV, has been repeatedly disrupted due to weak demand and semiconductor supply shortages. The FIM CISL union said last week the firm was considering permanently closing one of its two production lines at the Melfi plant to address excess capacity in Italy. European car registrations fell 23% year on year in the first two months of this year, according to industry data, as protracted coronavirus lockdowns and consequent uncertainty keep impacting spending decisions among families and businesses. UILM's Gianluca Ficco said on Monday the company told unions the latest Melfi production freeze was specifically due to low demand and not a result of the global chip shortage. A spokesman for Stellantis confirmed the plant would be closed in that April 2-12 period. All of Melfi's more than 7,000 workers would be put on a furlough scheme for the period.  

Jeep planning on a Grand Wagoneer Hellcat?

Twitter guy and Finder of Things Hidden Bozi Tatarevic scored another gem: an internal ZF document referencing a Jeep Grand Wagoneer Trackhawk. Dating from at least early 2017, the German auto supplier paperwork pairs what would be a 6.2-liter V8-powered three-row Jeep with ZF's 8HP95X transmission. The Jeep Grand Cherokee Trackhawk uses the 8HP95 gearbox, a version of the 8HP90 transmission used in the Dodge Charger and Challenger Hellcats, but built for all-wheel-drive applications and with a choice of gear ratio sets. This doesn't mean we'll ever see a Grand Wagoneer Trackhawk, but it looks like Jeep's been thinking about it. Not only that, but the brand was thinking about it with the just-launched-for-2019 Hellcat engine. The ZF document lists 729 PS for the engine in the Jeep, or a hair shy of 718 horsepower — just one off the figure for the 2019 Charger and Challenger Hellcats. The listed production dates mean ZF planned for a build run of April 2017 to May 2017. The document also mentions the Rolls-Royce Cullinan with two sets of build dates: from January 2016 to February 2016, and from December 2017 to January 2018. That sounds like a run of prototypes, which could be how the Grand Cherokee Trackhawk got included in the paperwork. The document didn't reference any other Wagoneer versions. A Hellcat-powered Grand Wagoneer would make sense. The new luxo-Jeep will be built on a modified Ram platform at the Warren Truck Assembly Plant, and we know Ram's working on a Hellcat-bound Ram 1500 TRX. And the now-iconic engine in an SUV that hopes to become a new icon would be a treat for dealers who wonder if the Grand Wagoneer will arrive too late to succeed. Again, this doesn't mean we'll see anything of the kind. Chrysler also evaluated a 300 Hellcat, but nothing's come of it. And with the standard Wagoneer still several years away — the renovations at the Warren plant aren't due for completion until 2020 — any hi-po version could wait another year after launch, were such a thing to happen. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.