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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.

2018 Jeep Wrangler Rubicon Alaska Cannonball | Oregon is on fire

Our man Jonathon Ramsey is driving a Jeep Wrangler Rubicon on a 14-week, 14,000 mile journey across North America. Check out his first, second, and third installments.Port Orford, Ore. – On arrival at Battle Rock, just off the southern coast of Oregon, I had completed the (other) Trans-America Trail. It's a worthy Bucket List endeavor even before you get to the bits that challenge a Jeep Wrangler Rubicon. The first tests came in western Oklahoma, tiptoeing through and around swampy farmland. Once I got to Colorado, the difficulty scale increased with each day's driving. By the time I hit wildfires and constant detours in Oregon, I was ready for the trail to end. Here are a few more notes from the last half: When I filled up in Columbia, North Carolina just before getting to Oregon Inlet, the odometer showed 12,294 miles. When I filled up in Port Orford before heading north to Seattle, the odo read 18,008, for nearly 6,000 miles in three weeks. GPSKevin says his trail covers 5,184 miles, but detours are an unavoidable part of the experience. Utah wins my vote for the widest variety of beauty. Crossing into southeastern Utah from Colorado, the landscape is full of desert farms and endless visibility to mountains at the ends of the Earth in Monticello. It's plush high plains greenery on the way up and down Geyser Pass, then the rocky red pioneer-killing cauldron of The Spanish Valley and Moab. Scrub-filled rock formations stretch to Salina, then back up to verdant forests in both halves of Fishlake National Forest. A final rocky stretch west of Sevier, Utah fell into a rolling golden land past Black Rock, another trip into sparer mountains, then the final comedown to Baker, Nevada. Moab gets all the Jeep love, but there's plenty of fun all over the state. In Ely, Nevada I met a Harley rider headed east out of Oregon who told me, "It's all on fire. Whole state. On fire." The haze began not long after leaving Ely. By the time I departed Battle Mountain, Nevada hills showed their own scorched-earth scars, and science-fiction gray skies hid entire mountain chains. Detours were already longer and lengthier in the West because of closed roads, locked gates, and "No Tresspassing" signs. Now fire-centric detours and turnarounds joined the routine. The last day on the trail in Oregon, a 114-mile route from Glendale, through the Rogue River Siskiyou National Forest to Port Orford, was the hardest.

GMC wants to target Jeep with compact crossover

GMC execs might consider adding a Jeep competitor to the range, but rather than new rumors of a Wrangler-fighter, this time the Professional Grade brand could go after the Renegade. Division boss Duncan Aldred would like to broaden the brand's lineup with a subcompact crossover. "I keep telling everyone, 'How can General Motors' truck brand not be in the fastest-growing segment in the industry, an SUV segment," he said to Automotive News but wouldn't confirm whether the model was under development. General Motors already offers small crossovers like the Chevrolet Trax and Buick Encore, but the CUV segment in general continues to drive auto sales in the US. Adding a similarly sized GMC to the mix might increase the automaker's volume by appealing to different customers. "A GMC buyer is very different from a Buick buyer. This is like comparing the Fiat 500X to the Jeep Renegade. They are very similar but appeal to different people," Dave Sullivan, Product Analysis Manager at AutoPacific, told Autoblog. Aldred started the speculation about a Wrangler-fighting model in an interview in late 2014, and the company reportedly even raised the idea of an offroad-focused vehicle to dealers to see how they reacted. The development process was only in the very early planning stages, but the brand considered using Hummer for a little of the new product's inspiration. Aldred later suggested to journalists the possibility of adding a compact or midsize SUV to the GMC range in the next 10 years to appeal to more buyers. He didn't comment directly on the possibility of the Wrangler-challenger at the time beyond saying: "I can't confirm that ... everything's on the table." Related Video: