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FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Autoblog Podcast #402

Episode #402 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus talk about the Audi A3 TDI Challenge and luxury car features we not-so-secretly love. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #402: The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics: Audi A3 TDI road trip Luxury features we're sort of ashamed we love In The Autoblog Garage: 2014 Land Rover LR4 2015 Aston Martin Vanquish 2015 Dodge Challenger R/T Scat Pack Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:17:40 Rundown: Intro & Garage - 00:00 Audi A3 TDI Challenge - 42:51 Luxury Features We Love - 01:00:05 Q&A - 01:09:17 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Podcasts Aston Martin Audi Dodge Land Rover Diesel Vehicles Luxury Performance aston martin vanquish

Burglars target Detroit-area dealership, steal Hellcat from showroom floor

A crew of Detroit car thieves seriously upped their game this week after stealing a Hellcat Challenger straight off the showroom floor. According to CBS Detroit, at around 1:00 am on January 24, a crew of burglars hit the Snethkamp Ram City dealership in Highland Park, MI. In full view of surveillance cameras, the burglars smashed a large glass door that led to the showroom floor and within seconds made off with a $75,000 Dodge Challenger SRT Hellcat. First they pushed the car through the broken door and out on to Woodward where a van was waiting. The van then pushed the car to a waiting tow truck and, just like that, the car and the crooks were gone. "It looks like they had about a minute and 30 seconds to open the door and push the car out, and then we see another car pushing it away," owner Mark Snethkamp told WWJ. "We've got some really good video and I'm shocked that the Highland Park police didn't catch them because they were here very shortly right after them." Snethkamp also told WWJ that they haven't had a break-in at the dealership like this since the 90s. Both the car and the suspect remain at large, and the Detroit Police Department are encouraging anyone with information to call either DPD or the Help Eliminate Auto Thefts (HEAT) tip line. VIDEO-2: Not gone in :60 but :90. Thieves still a $75,000 @DodgeHellcat off the showroom floor in #HighlandPark. @WWJ950 @CBSDetroit pic.twitter.com/8FvDkgboJ5 — Vickie Thomas (@VickiethomasWWJ) January 24, 2017 News Source: CBS Detroit Auto News Dodge Coupe Performance Detroit thieves challenger burglary