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Fiat Chrysler CEO says final merger talks with Peugeot going well

BRUSSELS — Fiat Chrysler's chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA  to create the world's No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months. Speaking to Reuters on the sidelines of an industry meeting, he said he doesn't expect any major obstacles that could delay a final agreement. "Talks are progressing really well," Manley said about negotiations with the French carmaker ahead of a briefing by the European automotive association (ACEA), of which he is president. His comments come a month after the two carmakers agreed to a binding deal worth about $50 billion to combine forces in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations. Manley's timeline for completing the deal by early 2021 is in line with a forecast made by the companies in December. Fiat and Peugeot are now getting into the details of how the merger will work, including choosing which vehicle platforms — the technological underpinnings of a vehicle — will fit which products in a combined company. Because customers in different locations still prefer vastly different cars, there is room for multiple platforms in a combined group, Manley said. "That global platform is an elusive beast," he added. "This concept of a massive global platform in my mind is almost a myth, but that doesnÂ’t mean to say weÂ’re not going to recruit significant volume." Related Video:    

Jeep still working to improve Cherokee's 9-speed auto

Fiat Chrysler is hoping an upcoming software update will stem the tide of consumer complaints surrounding its nine-speed automatic transmission. Owners of the 2014 Jeep Cherokee have reported a number of problems on the National Highway Traffic Safety Administration's SaferCar.gov website, since the new model and its troubled gearbox arrived way back in October 2013. The software update is "intended to keep the vehicle performing as intended, and to prevent durability issues from occurring in the future," an FCA spokesperson told Automotive News, and will be available to owners of both the 2014 to 2015 Jeep Cherokee and the 2015 Chrysler 200, which also uses the 9AT. While FCA will be notifying consumers of the update, owners can also request the software reflash if they happen into their dealer before then. Despite the widely documented problems with the transmission, the only complaints on NHTSA's website relate to the 2014 Cherokee – neither the 2015 Jeep nor the 200 have received any complaints. That bodes well as FCA prepares to begin deliveries of the 2015 Jeep Renegade and launch the Fiat 500X, both of which pair the 9AT with the 2.4-liter Tigershark four-cylinder. "We have had to do an inordinate amount of intervention on that transmission, surely beyond what any of us had forecast," FCA CEO Sergio Marchionne told Automotive News. "There are things that we have done – that we continue to do. Our proactive customer care intervention has actually increased in intensity on these vehicles in 2014, especially in the second half." What's fascinating about the 9AT's problems are that they haven't been the fault of manufacturer ZF, but have related to software that wasn't "mature" and had "teething problems," Marchionne has said previously, AN reports. With the lack of criticism for the 9AT in 2015 models and this pending software update, though, here's hoping that FCA has finally figured out its fuel-sipping gearbox. Related Video:

Marchionne backs off merger plans, could retire after 2018

FCA boss Sergio Marchionne is stepping back from plans to attempt a major auto industry merger like the oft-speculated deal with General Motors last year. According to Bloomberg, Marchionne now wants to grow his automaker through 2018, and then the 63-year-old could retire around the end of that year. Marchionne claims he received merger proposals last year, but he couldn't find an attractive enough partnership. "We went back to concentrate on the 2018 plan which would boost Fiat Chrysler's value and its position in a deal," he said to Bloomberg. He still believes that a big merger is possible, but "it will be someone else's duty," he said after previously hinting about possibly staying at FCA until 2020. Marchionne was clear that any chance for the GM merger was likely over. "I met Mary Barra less than a month ago in Washington," he told Bloomberg. "I don't think I will have another coffee with her. It won't happen again in the future." Now, the boss intends to spend the rest of his time at FCA building the automaker through its five-year plan, and his goal is to grow global deliveries to seven million units a year by 2018. To make that happen, the automaker will invest around $52 billion over that time to improve its brands' product slate. Marchionne began backtracking from the possible GM merger late in 2015 after it became clear that The General's board wasn't interested. Earlier in the year, he seemed more aggressive about the prospect by suggesting a hostile takeover with a bizarre metaphor about giving the company a hug. Related Video: News Source: BloombergImage Credit: Richard Drew / AP Photo Chrysler Fiat GM Sergio Marchionne FCA fca us