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Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

Highway To Hellcat: Dallas to Vegas with 2,000 HP

Fort Davis, TX. Early November. Late Sunday afternoon. The 1,200 residents of this small town are using their day of rest to quietly enjoy the breeze rolling off the hills. There's an older couple walking down the street, holding hands. A young lady working at a general store, where milkshakes and antacids are purchased at the same counter. It's a peaceful, quaint scene, right down to the tumbleweed rolling across the street and the rickety wooden porches outside the old storefronts. I hit the throttle of the 2015 Dodge Charger SRT Hellcat while turning left onto the road leading toward the town square, sending the sedan's rear end swinging to the right with a few puffs of rubbery smoke. I coast down to the 25-mile-per-hour speed limit and spot the line of Challengers, Chargers, and Vipers in my rear-view mirror, the drivers all mimicking my quick jolt of enthusiasm before pulling up the reigns on their V8s and V10s and idling into Fort Davis. Our posse would roll some 5,000 horsepower of pure American muscle into that small Texas town that day. It was only the first stop on an epic journey that would take us from Dallas to Las Vegas, on a winding route down toward El Paso, up through New Mexico, Arizona, and finally north into Nevada, ending at the ritzy Palazzo casino and hotel on the Vegas strip. It was an opportunity to see parts of America I never knew existed, and a chance to bond with some American cars that until recently, I sort of failed to understand. And most importantly it was an opportunity to drive really, really hard. Charging Through Texas Unless you've driven across it, it's hard to understand the massive space that is Texas. In places, scanning 360 degrees of horizon reveals absolutely nothing. Nothing. On its own, driving from Dallas to El Paso covers some 630 miles. Veer south to Fort Davis and you'll add another 70 onto that, not including the 75-mile Davis Mountain Scenic Loop where I found bliss behind the wheel of this insanely powerful sedan. I always expected to like the Charger Hellcat – comfortable seating for four (five in a pinch), equipped with the latest tech, wrapped in a stylish yet muscular body, like a quarterback in a tux. And it moves. The supercharged 6.2-liter Hellcat V8 pumps out 707 horsepower and 650 pound-feet of torque, which makes for one quick sedan, especially considering its heft.

NHTSA is investigating FCA shifters for roll-away accidents again, this time the rotary units

It seems FCA's shifter troubles aren't over yet. Now, just a few months after issuing a recall to resolve user-related issues with its monostable shifters, the company is again under investigation by NHTSA. The issue is related to the potential for cars to roll away when the rotary-style shifter is not properly placed in park. Two FCA models are the subject of this investigation: the 2013–2016 Ram 1500 and the 2014–2016 Dodge Durango. NHTSA estimates about 1,000,000 vehicles would be affected if a recall is issued. The investigation was started following 43 complaints of vehicles rolling away while supposedly being in "park." Among the complaints were reports of 25 crashes and 9 injuries. NHTSA does point out that in every incident, the parking brake was not engaged. A representative from FCA also gave us an official statement regarding the investigation: "FCA US is cooperating fully with NHTSA's investigation, the scope of which is limited. Other vehicles equipped with rotary shifters are not included. In accordance with prudent practice, the Company joins NHTSA in urging all drivers to use their vehicles' parking brakes." View 35 Photos As mentioned above, other Chrysler products with rotary shifters, such as the Pacifica minivan and 200 sedan, are not involved in this investigation. One of the key differences, as the representative told us, is that these vehicles have electronic parking brakes that automatically engage if the driver does not select park and then opens the door with the seatbelt unbuckled. The Ram 1500 and Durango feature mechanical, manually operated parking brakes and therefore cannot activate the brake automatically. Because this is currently an investigation, an exact cause for the incidents has yet to be determined, and none of the vehicles have been recalled. It's possible there could be a mechanical defect. However, the issue could be a confusing interface causing user error, as was the case with FCA's monostable shifters, where drivers think they've put the car in park but actually haven't. Something that indicates it could be a case of confused users is that NHTSA also opened an investigation into 2012–2014 Jaguar XF and Land Rover Range Rover Evoques for similar issues. Both vehicles use a rotary shifter and have had roll-away complaints levied as well. Even if it is a case of user error, FCA and Jaguar Land Rover may still have to recall their vehicles.