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Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.

Consumer Reports says Ram 1500 tops fuel economy fight [w/video]

Consumer Reports takes its independent vehicle testing procedures seriously. In an era when we have to question the EPA's official ratings thanks to recent re-evaluations from Ford and Hyundai, an independent voice is important. So, when CR says something is the best, it's worth paying attention to. The Ram 1500 EcoDiesel has "about the same fuel-economy numbers that we typically see in a midsized SUV." – Jake Fisher In this case, CR took a look at the fuel economy of the 2014 Ram 1500 EcoDiesel and found that it came out on top of the fullsize pickup truck pack. The Ram did so with 20 miles per gallon overall and 27 mpg on the highway. CR gave the truck a total road test score of 82. The EPA says that the EcoDiesel 1500 gets 28 mpg on the highway, 20 mpg city and 23 mpg combined. Comparing official EPA numbers, the Ram is also the best among trucks in its class. It's nice when people agree on something. As we know from first-hand, long-distance experience, you can push the 1500 EcoDiesel to 38 mpg. CR found in its own testing that the truck had, "about the same fuel-economy numbers that we typically see in a midsized SUV," said Jake Fisher, CR's director of automotive testing, in a statement. Speaking of midsized SUVs, CR also announced this week that the new Toyota Highlander Hybrid got the top spot in CR's ratings in that category. CR liked pretty much everything about the SUV, saying that the "transitions between electric power and the gas engine are seamless" and that, "the new Highlander also handles better, with a steadier ride and reduced body lean in corners." You can find more at the CR website, in the October print issue of Consumer Reports or in the video and press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. RAM ECODIESEL 1500 TOPS CONSUMER REPORTS FULL-SIZE PICKUP TRUCK RATINGS Redesigned Toyota Highlander Hybrid Climbs to Top of Midsized SUV List Yonkers, N.Y.- The Ram 1500 EcoDiesel climbed to the top of Consumer Reports' full-size pickup truck ratings with an impressive performance in the organization's fuel economy tests. The EcoDiesel (82 point overall road test score) turned in a best-in-class fuel economy of 20 mpg overall and 27 mpg on the highway, to help it score better than the previously tested Ram 1500 V8 (81) regular gas version and Chevrolet Silverado 1500 LT (80).

Dodge shows can-do attitude with grand Can'avan sculpture

There are lots of ways to celebrate an important birthday, and all of them are well deserved. You can throw a big party, buy yourself something nice, or - if you're the altruistic type - do something for others in need. The latter is how Chrysler has opted to mark the 30th anniversary of its Dodge Grand Caravan and Chrysler Town & Country.
Together with hunger-advocacy organization Canstruction, the Chrysler Foundation has built a full-scale replica of the Grand Caravan out of 30,000 food cans in the square at the corner of Yonge and Dundas in Toronto, a ways down the highway from where the real vans are built in Windsor. The sculpture was built over the course of 10 hours by 30 volunteers and was displayed earlier this week.
Now the installation is being taken down, and the cans of food are being donated to the Daily Bread Food Bank, which will assemble them into 2,000 food baskets to be distributed to those in need through its network of 200 food banks across the Canadian metropolis. Check out a neat time-lapse video of the build and the press release below.