1977 1978 1979 1980 1984 1985 1986 1987 1988 1990 1991 on 2040-cars

Auto blog

Fiat/PSA's dominance in small vans hangs up EU's merger approval

BRUSSELS — EU antitrust regulators are concerned about Fiat Chrysler and Peugeot / PSA's combined high market share in small vans and may require concessions to clear their $50 billion merger, people familiar with the matter said. The companies, which are seeking to create the world's fourth biggest carmaker, were told of the European Commission's concerns last week. If Fiat and PSA fail to dispel the European Commission's doubts in the next two days and subsequently decline to offer concessions by Wednesday, the deadline for doing so, the deal would face a four-month-long investigation. The EU competition enforcer, which has set a June 17 deadline for its preliminary review, declined to comment. Fiat was not immediately available for comment while PSA had no immediate comment. Hiving off overlapping businesses, usually a regulatory demand to ensure more competition, could prove tricky for the carmakers because of the technicalities. Fiat and PSA are looking to merge to help offset slowing demand and shoulder the cost of making cleaner vehicles to meet tougher emissions regulations. The deal puts under one roof the Italian carmaker's brands such as Fiat, Jeep, Dodge, Ram, Maserati and the French company's Peugeot, Opel and DS. Related Video: Government/Legal Chrysler Dodge Fiat Jeep Maserati RAM Citroen Opel Peugeot

Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

Jeep Grand One and Quicksand Concepts lead the charge to Moab

Jeep's past, present, and future all share equal billing at the 51st annual Easter Jeep Safari in Moab. We're suckers for vintage Jeeps, so the all-new Grand One Concept really stands out among the seven vehicles that make up Jeep's conceptual take on the off-road event. It's based on a 1993 Grand Cherokee in a slightly early celebration of the model's 25th anniversary. Exterior mods include custom fender flares for clearance over 18-inch wheels and 33-inch BFGoodrich Mud-Terrain KM2 tires, trimmed front and rear fascias and what FCA is calling a "subtle wood grain" splashed on the vehicle's bodysides. An extended wheelbase ought to offer a bit more room inside, and a two-inch suspension lift will help when the going gets tough. No alterations are mentioned to the vehicle's 5.2-liter V8 or 4-speed automatic transmission. The second most interesting concept for Moab is the Jeep Quicksand. It's clearly Wrangler-based, but instead of a traditional rock-climbing focus, this one's built for the sand dunes. Power comes from a worked-over Mopar 392 Crate HEMI engine topped with an eight-stack fuel injection system that peeks through the hood. A six-speed manual sends the ponies to all four wheels, but with a unique twist: 32-inch BFGs in the front and 37s in the rear in what Jeep says is its first application of staggered tire sizes on a concept vehicle. A Warn winch concealed in a vintage-style Moon tank at the front is the finishing touch. The Jeep Safari Concept is all about letting the outdoors in while keeping the elements out. A translucent hardtop and four aluminum and clear vinyl doors are the most obvious changes from stock, and two rear seats have been angled outward so that their occupants get a better view outside. Dana 44 axles and a two-inch suspension lift come from the Mopar parts catalog, but the roof-rack-mounted drone and dash-mounted iPad are custom one-off touches. Power comes from a stock 3.6-liter V6 and five-speed automatic transmission. Perhaps more intriguing than all the custom bits and baubles, though, are what appears to be next-gen Wrangler bodywork. Take a look at the kinked grille, the outer slats of which are pinched by the headlights, and the shape of the rocker panel between the front and rear door. No, this isn't exactly a 2018 Wrangler hiding in plain sight, but it's certainly a nod toward the future. Jeep's Switchback Concept looks to be a rolling Mopar parts catalog.