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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.

2019 Ram 1500: FCA design boss discusses truck's 'well-dressed' new look

The Ram pickup may be FCA's linchpin vehicle. It is the brand's bestseller in America, by far. In 2017, more than 500,000 of these full-size trucks rumbled off of dealers' lots, outselling FCA's second-bestseller, the Jeep Grand Cherokee by a 2-to-1 ratio. Even in an American automotive market in which sales were down by nearly 2 percent, even in the last model year of production for the truck's current generation, sales were up by more than 11,000 units over 2016. "The Ram pickup is exceptionally important. Especially since the last one was so popular," says FCA Design Head Ralph Gilles. "We're in the middle of a truck war. And the public wins." No small part of the Ram's success has been derived from its sneering appearance, its more carlike ride, and its potent Hemi engines. Sales have nearly tripled in this generation, and many of those sales are poached from competitors at Ford and GM. So, when unveiling an all-new Ram pickup, many considerations have to be weighed. It has to fit in with the heritage of the vehicle, it has to offer significant advances, and it has to capitalize on its slight underdog status in comparison with the bigger players from Ford and General Motors, whose pickups sell over 800,000 units a year. "The Ram was designed as an honest truck," says Gilles. "But with our Longhorn and Limited, we are staring to look at how far we can push the luxury end of things. And with Rebel, we are looking at how far we can push in a sporty direction. So it's kind of a dual personality thing." Gilles says that the distinctive, unique selling proposition of the Ram is based in no small part on its looks. "I think we are the most well-dressed," he says. "The truck is sleek and smart looking, and will age well." Safety features are also key, especially when creating a smoothly holistic appearance, like the new Ram has. "We want to integrate all the safety features consumers want without making the truck look like it has the measles," Gilles says. Although the automotive market overall was down in 2017, pickup truck sales were up by nearly 5 percent over 2016, a rather stunning increase. But one that is reflective of contemporary tastes. Nearly two-thirds of all vehicle purchases in America last year were light trucks (this includes pickups, SUVs, crossovers, and vans.) In an era of intense technological change, this seems somehow retrogressive.

FCA recalls 1.1 million vehicles worldwide due to confusing shifter

Fiat Chrysler is recalling 1.1 million vehicles worldwide to address the problematic shifter used on cars with eight-speed automatic transmissions. The issue is that the console-mounted shifter acts like a rocker switch and always returns to the middle position after moved. This has been deemed confusing to drivers – confusing enough to cause some to exit their vehicles without first selecting Park and leading to the car rolling away. FCA says 41 injuries are related to the shifter problem, and no evidence of equipment failure has been found. The company will enhance warning chimes and alter the shift strategy, meaning alert messages will be displayed in case the driver door is opened while the engine is running. With the door open, the transmission will prevent the car from moving even if Park is not selected. The affected vehicles are certain model-year 2012–2014 Dodge Charger and Chrysler 300 sedans, as well as model-year 2014–2015 Jeep Grand Cherokee SUVs, an estimated 811,586 US vehicles in total. The recall also affects 52,144 vehicles in Canada, 16,805 in Mexico, and 248,667 vehicles elsewhere. The shifter is used with ZF-designed and ZF-built eight-speed automatic; Audi uses a similar shifter setup in some of its vehicles, including the current-generation, which predated Chrysler's use of it. Chrysler uses a different, a rotating-dial-type shifter on eight-speed-equipped Rams. The company moved away from the problem shifter design in 2015 for the Charger and 300, and the Grand Cherokee's shift lever was modified for 2016. Owners of affected vehicles will be notified of the recall when service is available. Fiat Chrysler urges customers to follow the instructions in the vehicle's owner's manual in the meantime. Related Video: News Source: FCAImage Credit: AOL Recalls Chrysler Dodge Jeep RAM Ownership Safety SUV Sedan