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Auto Mergers and Acquisitions: Suicide or salvation?

We love the Moses figure. A savior riding in from stage right with the ideas, the smarts, and the scrappiness to put things right. Alan Mullaly. Carroll Shelby. Lee Iacocca. Andrew Carnegie. Steve Jobs. Elon Musk. Bart Simpson. Sergio Marchionne does not likely view himself with Moses-like optics, but the CEO of Fiat Chrysler Automobiles recently gave a remarkable, perhaps prophetic interview with Automotive News about his interest and the inevitability of merging with a potential automotive partner like General Motors. Marchionne has been overtly public about his notion that GM must merge with FCA. For a bit of context, GM sold 9.9 million vehicles in 2014, posting $2.8 billion in net income, while FCA sold 4.75 million units and earned $2.4 billion in net income, painting a very rosy FCA earnings-to-sales picture. But that's not the entire picture. Most people in the auto industry still remember the trainwreck that was the DaimlerChrysler "merger" written in what turned out to be sand in 1998. It proved to be a master class in how not to fuse two companies, two cultures, two continents, and two management teams. Oh, it worked for the two individuals at both helms pre-merger. They got silly rich. And the industry itself was in a misty romance at the time with mergers and acquisitions. BMW bought Rolls-Royce. Volkswagen Group bought Bentley, Bugatti, and Lamborghini, putting all three brands into their rightful place in both products and positioning. No marriages there, so no false pretense. Finally, Nissan and Renault got married in 1999. A successful marriage requires several rare elements in this atmosphere of gas fumes and power lust. But a successful marriage requires several rare elements in this atmosphere of gas fumes and power lust, the principle part being honesty. Daimler and Chrysler lied to each other. The heads of each unit, the product planners, and finance all presented their then-current and long-range forecasts to each other with less-than-forthright accuracy. Daimler was the far greater equal and no one from the Chrysler side enjoyed that. The cultures were entirely different, too, and little was done to bridge that gap. Which brings me back to the present overtures by Marchionne to GM. "There are varying degrees of hugs," Marchionne stated in the Automotive News piece. "I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you." Seriously?

Hennessey Mammoth is a Ram 1500 TRX turned three-row SUV

The 2021 Ram 1500 TRX is a thoroughly incredible machine that's great for pounding across dunes and flying over jumps, and you can even bring along some friends and their gear along for the ride. But what if you want to bring more friends along. Well, Hennessey Performance has the solution in the Mammoth SUV. What it is, is a TRX turned into a three-row SUV. It's something that Hennessey has experience with, as nearly a decade ago, it started converting some of its upgraded Ford F-150 Raptors (called VelociRaptors after being tuned) into custom SUVs. Like those Fords, the Mammoth will get a custom roof, rear pillars, glass and unified interior to provide more covered space. The company will also replace the second-row bench with captain's chairs and add a third row with a folding bench seat. While Hennessey could probably simply sell these TRX SUVs just with the body modification, the company will also add additional performance. An upgraded supercharger, pulleys, fuel injectors, engine calibration, intake and high-flow catalytic converters bring output to an absurd 1,012 horsepower and 969 pound-feet of torque. Hennessey claims it will get to 60 mph in 3.2 seconds and through the quarter-mile in 11.4. The company also raises the truck an extra 2.5 inches and fits a custom off-road bumper with LED lights and 20-inch wheels with 35-inch tires. The whole thing will cost $375,000. That's no small amount, but there's a lot of custom work in the vehicle. Plus, it's exclusive, with only 20 units slated to be produced. If it's what you're looking for, the company is taking orders now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

FCA CEO Mike Manley will run Americas for Stellantis after PSA merger

DETROIT — Fiat Chrysler CEO Mike Manley will run operations in the Americas when his company merges with FranceÂ’s PSA Peugeot early next year. FCA Chairman John Elkann announced ManleyÂ’s new post on Friday in a letter to employees. ManleyÂ’s role in the merged company had been a mystery. PSA CEO Carlos Tavares will run the overall company, to be named Stellantis. Shareholders of both companies will vote on the merger Jan. 4 to seal the deal creating the worldÂ’s fourth-largest automaker. The merger is expected to be completed by the end of March. PSA will get six seats on the new companyÂ’s 11-member board, which will be chaired by Elkann. The Americas, especially the U.S., are key to the new companyÂ’s success. Fiat ChryslerÂ’s Jeep and Ram brands are highly profitable, and Tavares has long wanted to sell PSA vehicles in the U.S. Manley has been the Italian-American automakerÂ’s CEO for 2 1/2 years, taking over when Sergio Marchionne died in 2018. Stellantis will have the capacity to produce 8.7 million cars a year, just behind Volkswagen, the Renault-Nissan alliance and Toyota. Related Video: Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot Mike Manley Stellantis