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Ram exec: first 30-mpg pickup truck will 'win'

It is totally possible, today, to take the Ram 1500 EcoDiesel pickup truck, load it up with gear and people, and drive it from Texas to Michigan while getting 38 miles per gallon. We know because we did it. Officially, though, the 1500 gets just 20 mpg combined. A more impressive number is the 28 mpg on the highway. Bob Hegbloom, the Ram brand director, thinks that there's a more important fuel economy target to hit: 30 mpg. Whichever truck company can manage that feat, he recently told Automotive News, "wins." It's kind of an obvious thing to say, but in the 1500 with both the EcoDiesel and the V6 Pentastar engine, Hegbloom said, "fuel economy is so important." Hegbloom didn't promise that the next EcoDiesel truck will manage to get on up over the 30 hump, but he did say that Ram is not sitting still when it comes to fuel economy. "I just want to have continuous improvement and to keep gaining every day," he said. "We sat still in the past and it doesn't lead to a great place."

FCA CEO Mike Manley will take undefined new role after PSA merger

MILAN — Fiat Chrysler Chief Executive Mike Manley will remain with the new group set to result from a planned merger with French rival PSA-Peugeot, Chairman John Elkann said on Wednesday. In a letter to Fiat Chrysler (FCA) employees on the day the two companies announced a binding agreement for a $50 billion tie-up to create the world's fourth-largest carmaker, Elkann said he was "delighted" that the combined group would be led by current PSA CEO Carlos Tavares. "And Mike Manley, who has led FCA with huge energy, commitment and success over the past year, will be there alongside him," he said. He did not say what position Manley would hold. Elkann — who will chair the new group — said there was still much to be done to complete the merger. "Over the coming months we must work tirelessly and determinedly to fulfill all the approval requirements needed to finalize the commitment we have signed," he said. Related Video:     Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot FCA PSA merger Mike Manley carlos tavares

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.