1977 Citroen Mehari on 2040-cars

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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.

Citro"en to launch value-oriented C-line as part of brand reorganization

A report in Autocar says that PSA Peugeot-Citroën is realigning its brands. Peugeot will take the top slot to fight in the "premium mainstream" segment; in other words, Volkswagen. Citroën is said to be pointing its spear at a space that has Ford above and Dacia below, while its "DS arm" is classified as "near premium," but it isn't clear how high its aspirations climb. The entry-level point will be occupied by a C-line to be introduced by Citroën that would be "a balance between cost and functionality" and will take cues from the Lacoste concept shown at the 2010 Paris Motor Show (seen above).
The company has split its design studio into halves, one side for DS, the other for the C-line. The C-line's philosophy will be "bold" styling outside with "ease of use and simplicity" everywhere else. Build options will be kept low in order to maintain profits and low prices, but the options sheet won't be bare. The first offering in the line could be shown at the Frankfurt Motor Show, and will preview the replacement for the C3.

Here's your chance to bid on a rare Chapron-bodied 1969 Citroen DS

Citroen's palatial DS has become a sought-after classic, but auction house Bonhams is preparing to sell one that makes the regular sedan look a little mundane. Up for grabs with no reserve is a rare 1969 DS 21 that was rebodied into a stately limousine by coachbuilder Chapron. Assigned chassis number 4637101, the DS 21 scheduled to cross the auction block is one of 27 Majesty models built by Paris-based Chapron and one of three equipped with directional headlights, which were a real novelty in the late 1960s. While the DS was positioned as Citroen's range-topping sedan from 1955 to 1975, the coachbuilder took luxury to the next level by giving the Majesty a more upright C-pillar that cleared up additional space for the passengers riding in the back, a more angular-looking rear end, and a more upmarket interior. Majesty models also featured specific trim inside and out (the chrome strips on the fenders and on the front doors were notably not fitted to the regular-production DS) and a handful of subtle Chapron emblems. Pricing varied from car to car, but the Majesty wasn't cheap. It was created largely for heads of state and other money-no-object dignitaries, it was built almost entirely by hand, and it was priced accordingly. Finished in Midnight Blue, the example offered by Bonhams was fully restored in the 2000s. But it has been stored since the current owner purchased it at Retromobile in 2009, so it needs a full tune-up — at the very least. Like every DS built, the Majesty was fitted with a hydropneumatic suspension system that (we say this from experience) doesn't like to sit for an extended period of time. Parts are readily available, and the system isn't nearly as daunting to work on as it sounds, so getting it back on the road should be easier than it sounds. Bonhams is offering this Majesty with no reserve, meaning the highest bidder will take it home. It expects the sedan to sell for anywhere between 50,000 and 100,000 Swiss francs, excluding auction-related fees, figures that represent about $50,200 and $100,300, respectively. If this looks like the project that you've been waiting for, mark your calendar for July 3 — that's when this car will cross the block in Gstaad, Switzerland. Collectors who would rather enjoy a bidding war from the comfort of their couch can register to bid online.