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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Why 2015 is going to be a huge year for trucks

Nissan chief executive Carlos Ghosn took center stage to introduce the 2016 Titan last week at the Detroit Auto Show. He spoke of the truck's new features, impressive Cummins V8 diesel engine and the extensive amount of time and money required to build a modern, competitive pickup truck. "We have done all of this because we see opportunity – an opportunity in the unmet needs of today's American truck customers," Ghosn said. He was speaking about the Titan, but his thoughts echo the industry's mindset: When it comes to trucks, find an opportunity and attack. Even with CAFE regulations looming and fickle consumer preferences, investing in trucks is a no-brainer for automakers. Some consumers will always need a truck for their job or lifestyle. And some people will always want one, whether they need it or not. With that in mind, here are four reasons why the pickup-truck sector is more important than ever and poised for growth in 2015. View 24 Photos The Nissan Titan Is Back Okay, it never left, but the Titan hadn't been redesigned since its launch in 2003, and Nissan sold more NV200s than Titans in 2014. It's an understatement to say the truck was languishing. That all changes with the 2016 model. The Titan will come in two variants, a traditional fullsize competitor and the Titan XD. The XD will lead the market launch, and it arrives late this year. It's pitched as a "whitespace" offering, Nissan sales and marketing vice president Fred Diaz said. The idea is to offer something in the general size and price range of a fullsize truck, but also have some of the capability of a heavy-duty truck. The XD uses a fully boxed ladder frame, the chassis design from Nissan's commercial division, and the wheelbase is about 20 inches longer than other Titan models. The XD, which Nissan is calling the flagship of the line, will be the only model with the 5.0-liter Cummins turbodiesel V8. It produces 310 horsepower and 555 pound-feet of torque, while being able to tow 12,000 pounds. V6 and V8 gasoline models will also be offered on the Titan XD and the standard, non-XD model. When production ramps up, the Titan will be sold with several cabs, beds and trims. New features include trailer sway control, an integrated trailer brake controller, more storage options in the cabin and even laminated front and rear side glass to reduce outside noise. All of this has given Nissan fresh confidence in an area where it admittedly has been lacking. "We can compete," Diaz told Autoblog.

2020 Ram Power Wagon Review | What mud?

A 2020 Ram Power Wagon is not your typical heavy-duty pickup truck. All of them try to be the tough kid on the block, but the Power Wagon goes even further. Just the name, Power Wagon, is synonymous with a tenacious, brash, and mean attitude.  “LetÂ’s go hop in my Power Wagon,” I shout at my friend. I donÂ’t even need to add anything else to that sentence to sound braggadocios. The Ram takes care of it for me. And I do mean hop into it. One does not gracefully step in and out of a Power Wagon, because it is simply far too high off the ground. There are side steps, but they're not one of those automatically-retracting ones that forms a staircase into the cabin. Instead, I grab the A-pillar handle, yank myself onto the step, and then swivel around to fall onto the large, comfy seat.  Once inside, the tough kid mantra starts to slip, but only slightly. Ram brought all the fancy interior appointments from the 1500 over to the Heavy Duty lineup with the 2019 refresh, which means the 2500 Power Wagon also gets all the goodies. Our heavily-optioned test truck doesnÂ’t feel rugged or basic on the inside at all. ItÂ’s covered in black leather, piano black and carbon fiber-look trim, metal accents and digital screens galore. There are still some rather large ‘Power WagonÂ’ badges here and there, plus the big mechanical transfer case shifter (the only Ram HD with one), but the inside is much more luxurious than one would expect from an off-road vehicle. 2020 Ram 2500 Power Wagon View 20 Photos Taking stock of my height relative to other vehicles on the road brings the reality of the Power Wagon back into perspective. Throughout my weekend behind the wheel, there wasnÂ’t another pickup that I passed or pulled up next to at a light that was sitting taller than me. This comes as no surprise, as the Power Wagon features a 2-inch lift from its custom suspension versus other Ram Heavy Duty trucks. It also has Bilstein shocks, front and rear locking differentials and an electronically disconnecting sway bar. Armed with all that, leaving the pavement is a must. Lacking any great off-road trails or logging roads in the southeast Michigan area, I turned the Power Wagon south and aimed for dirt roads. We had just received a few big rains in the area, and some of the dirt roads around here can get egregiously bad to navigate in winter. Thankfully, I found some mud.