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FCA-Renault merger faces tall odds delivering on cost-cutting promises

FRANKFURT/DETROIT — Fiat Chrysler Automobiles and Renault promise huge savings from a mega-merger, but such combinations face tall odds because of the industry's long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. BMW's 1994 purchase of Rover, and Daimler's 1998 merger with Chrysler both made sense on paper. The companies promised to hike profits by combining vehicle platforms and engine families. Both combinations proved unworkable in reality, and were unwound. Renault and Nissan, which have been in an alliance since 1999 designed to share vehicle components, have only managed to use common vehicle platforms in 35% of Nissan's products despite an original target of 70%, according to Morgan Stanley. FCA and Renault have raised the stakes for themselves by ruling out plant closures. That increases the pressure to achieve more than $5 billion in promised annual savings from pooling procurement and research investments. The two companies have yet to fill in many of the blanks in the merger plan put forward by Fiat Chrysler. Renault's board is expected to act soon to accept the proposal, but that would lead only to a memorandum of understanding to pursue detailed operational and financial plans. A final deal and the legal combination of the two companies could take months to complete if all goes well. Pressure to cut automotive pollution is driving the latest round of consolidation. Automakers are looking at multibillion-dollar bills to develop electric and hybrid cars and cleaner internal combustion engines. Fiat Chrysler and Renault are betting they can design common electric vehicle systems, then sell more of them through their respective brands and dealer networks, cutting the cost per car. Developing all-new electric vehicles can bring more opportunities to share costs from the outset, industry experts said. "With the emergence of connected, autonomous, electric and shared vehicles, carmakers face immediate investments, so new opportunities for sharing costs have emerged," said Elmar Kades, managing director at Alix Partners. However, most electric vehicles lose money. This is a challenge for city car brands in Europe in particular. Both Renault and Fiat rely heavily on this segment for sales.

Maserati Quattroporte Trofeo, GMC Yukon XL, Tesla earnings, Maine Mitsubishi Delicas | Autoblog Podcast #689

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They discuss recently driven cars: the GMC Yukon XL diesel, Maserati Quattroporte Trofeo and Acura TLX Type-S. After that comes recent Tesla news along with cancelled Mitsubishi Delica registrations in the state of Maine. Finally, the editors help a reader spend their money on an affordable crossover. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #689 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving: 2021 GMC Yukon XL diesel 2021 Maserati Quattroporte Trofeo 2022 Acura TLX Type-S News: Tesla earnings and delays Mitsubishi Delica registrations in Maine Spend my money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

Mitsubishi had a shockingly good year in the U.S., and here's why

The year 2017 was a very good one for Mitsubishi in the United States. For the first time since 2007, the company sold more than 100,000 cars and crossovers here. Most of the credit goes to the Outlander, which sold just over 8,700 more examples this year than in 2016 for a total of 35,310. It was also the overall bestseller for the company in America. Its slightly smaller cousin, the Outlander Sport, was the second-best with 33,160 units, a number that barely changed from 2016. Also interesting to note is that each of Mitsubishi's crossovers roughly equaled the total number of traditional car sales, which include the last Lancers, Evos and i-MiEVs, as well as the Mirage hatch and Mirage G4 sedan. The Lancer actually did all right considering it was phased out in the middle of last year, selling over 12,000 units, almost as many as in 2016. Mirage hatchback sales dropped quite significantly at just over 6,000, but Mirage G4 sedan sales increased by roughly the same amount. Considering the weaker car sales, Mitsubishi has probably made the right decision to focus on expanding its crossover line with the all-new Eclipse Cross launching this year, and the newly available Outlander PHEV. This milestone also marks Mitsubishi's slow and steady gains lately. According to the company, this is the fifth year of increased sales in the U.S. And on a global scale, the company saw gains, too. Its sales topped 1 million worldwide compared with 934,000 in 2016. In China sales were up over 50 percent, and it also saw sales increases in the Germany, Russia, Japan, Australia, and many countries in southeast Asia. So it seems Mitsubishi is making a nice little turnaround for itself. Related Video: