2014 Jeep Grand Cherokee Limited on 2040-cars

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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.

2018 Jeep Wrangler First Drive Review | Improving an Icon

TUCSON, Ariz. — We crawled, with the lightest possible touch of the accelerator pedal, over a boulder-strewn mountain peak just outside of Tucson. We'd been driving for a few hours already, through city streets, along the highway, through twisty stretches just outside of Saguaro National Park. But it wasn't until we were pointed skyward, at such a severe vertical incline that we could only barely make out the hands of the trail guide ahead, that we knew Jeep had nailed the 2018 Wrangler redesign. That light-bulb moment was punctuated by the screeching steel impact of a skid plate along the jagged edge of a boulder. There's just something that feels right about a vehicle designed with purity of purpose. Leave the one-size-fits-all approach to the midsize crossover; stop attempting to be all things to all people like the midsize sedan. The problem with narrow-minded vehicles, though, is that they all require some sort of significant compromise to live with on a daily basis. With the latest version of the iconic Wrangler, Jeep set out to banish as much compromise as possible. Smoothed-out corners and lightweight materials improve efficiency, a range of engine choices opens the envelope to a larger swath of buyers, and big infotainment screens and backup cameras make the 2018 Wrangler easier to live with than ever before. But that essential purity of purpose remains intact. The latest Wrangler is better in every way than its predecessor, a fact that rings true no matter what type of terrain you're driving on. A casual observer may not notice the subtle exterior tweaks made to the 2018 Wrangler, codenamed JL, over the JK model it replaces. The round headlights, LED units on higher-end models, now cut into the outer two vertical grille slats, which are canted back just enough to make a difference in the wind tunnel. The windshield, too, is swept back further than ever before, but not so much that it messes up the Wrangler's timeless design. Hood and door latches are still externally bolted to the body — crucially allowing the doors and windshield to be removed or folded down for the pinnacle of open-air motoring — like little lumps of clay the designer forgot to smooth out. Vents in the front fenders reduce underhood pressure and keep the hood from writhing about at speed as it did on Wrangler models in the past. So picky are Wrangler customers that Jeep's decision to move the turn signals ignited a thousand threads on internet forums worldwide.

Jeep gunning for 1M sales this year

Jeep CEO Mike Manley would rather soft-pedal the seven-figure prognostication for now, but Fiat CEO Sergio Marchionne won't have it, proclaiming in an interview that Jeep will sell one million units worldwide this year. Manley has called that come-hither number "a stretch," the history of recent gains perhaps reason for his caution: in 2011 the brand sold 568,317 units, followed by the record-breaking tally of 701,626, then another record in 2013 with 731,565 units moved.
That kind of gap means everything will need to go magically for Jeep to record a 37-percent increase this year - amazing Cherokee sales, a brilliant launch for the little Jeep arriving in Europe later this year and a heavy wave to raise sales in US, European and Chinese markets. Manley is confident about the prospects in 2015, though, with the Cherokee in full stride, the Fiat-based Jeep on its way to the US and expanded global production. It's not as though Marchionne's prediction for Jeep's 2014 sales is unexpected, since he first made it last year. But even if the number ends up a little short for 2014, there's no doubt it will be impressive.