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PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

Mitsubishi Concept GR-HEV brings diesel hybrid efficiency to the pickup game

Mitsubishi unveiled its Concept GR-HEV at the 2013 Geneva Motor Show. Branded a "Sport Utility Hybrid Truck," the concept mates a 2.5-liter clean diesel engine with a front-mounted electric motor for a more efficient one-ton pickup. Complete with an automatic transmission mated to a full-time four-wheel-drive system, the GR-HEV is designed to make hybrid technology attractive to buyers beyond the traditional compact car market. Mitsubishi says the vehicle's drivetrain is good for CO2 emissions of 149 grams per kilometer. For comparison's sake, the global 2012 Ford Ranger emits 264 g/km when equipped with the 3.2-liter turbo-diesel engine and a six-speed manual transmission.
Designed to be both more simple and less expensive than electric, plug-in hybrid or standard hybrid work vehicles, the GR-HEV would theoretically yield both the instant torque of a hybrid and the range of a traditional diesel. You can take a closer look at a full press release below for more information.

Mitsubishi reverses course on European exit with help from partner Renault

Mitsubishi will remain in some European markets after all, a surprise announcement from the company and its alliance partners Renault and Nissan confirmed early Wednesday. This is a reversal of what was expected after several rounds of restructuring were announced in 2020 as the company looked ahead to a $3.4 billion loss.  From the announcement, we can gather that Mitsubishi's survival on the continent comes care of its partners, who will supply vehicles that have already been approved for sale in Europe to be offered alongside the Mitsubishi Eclipse Cross plug-in hybrid. The announcement refers to them as "sister models [...] with differentiations," which could mean anything from typical platform-sharing to some old-fashioned badge engineering. Given the company-wide cost-saving efforts, we're inclined to believe it's more along the lines of the latter.  "Mitsubishi Motors has decided to procure OEM-model vehicles from Renault, best-sellers on the European market which already meet regulatory requirements, for selected major markets in Europe," the announcement said. "Starting 2023, Mitsubishi Motors will thus sell two 'sister models' produced in Groupe Renault plants, which are based on the same platforms but with differentiations, reflecting the Mitsubishi brand’s DNA." The Alliance has also not yet confirmed which markets will remain open to Mitsubishi, however Automotive News has confirmed that the UK will not be one of them. Mitsubishi has already launched its updated Eclipse Cross lineup, but the forthcoming PHEV has yet to be fully detailed. The company said it has no plans to bring it to the United States, where the Outlander PHEV has moved in only limited volume.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Mitsubishi Outlander crossover SUV reveal