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Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Ram launches perfectly predictable ads [UPDATE]

Correction: A previous version of this story incorrectly stated these commercials were Super Bowl ads. This is not the case, and the text has been corrected to reflect that they are not, in fact, Super Bowl ads. Ram has released some new commercials, and they're pretty boring. They're not bad by any means, it's just that they're exactly what you'd expect from a truck commercial. The two 30-second spots deal with the themes of doing truck things and being a strong, community-focused American. The first of the two shows Rams performing such kind-hearted duties as pulling a fallen tree off a road, or towing a church to its pastoral new home. In the background, the narrator repeats words tied to strength, courage, assistance, and longevity. To paraphrase Mr. Spock, this Ram will be strong, live long, and help your community prosper. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The second spot shifts more to the community-focused and family-minded theme. Clearly, it's meant to show that the tough guy in the Ram has a soft side. But don't worry, he can still pound through snow with his mega-sized plow, which is perfect for making sure people can go ice-skating in the middle of nowhere. While they're adequate ads that deliver a pretty clear message, they cover the same ground most other truck commercials have. They're just generic truck commercials we'll forget about an hour after they've aired. Here's hoping other automakers step up their game. Related Video:

Chrysler earns $1.7B in 2012, revises product plans for US

Hot on the heels of Ford's earnings announcement for the year that was, Chrysler today reported a 2012 net income of $1.7 billion, up substantially from the comparatively minuscule $183 million profit earned in 2011 when it repaid its US government loans.
Chrysler's good year ended with an excellent fourth quarter that saw net income rise 68 percent from $225 million in 2011 to $378 million. Where are all those extra earnings coming from? Market share, which Chrysler saw increase to 11.4% last year on sales of 1.65 million vehicles. In fact, the Auburn Hills, MI-based automaker out-paced the industry's market growth of 13 percent last year with sales up 21 percent for the year.
The company also revealed an updated product plan for its Chrysler Group and Fiat brands that looks all the way out to 2016. It's an updated version of the plan introduced in 2009 shortly after Fiat took control of the American automaker, and includes such new additions as an Alfa Romeo model, likely the 4C, to be introduced in the US this year, as well five more Alfa models by 2016. Likewise, Fiat will be growing by an additional seven models in the coming few years.