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Dodge could return to NASCAR, Marchionne says

Fiat Chrysler Automobiles CEO Sergio Marchionne said he'd "love to" bring Dodge back to NASCAR. The news could signal a potential shift in America's favorite motorsport away from today's three-manufacturer arrangement, but we're wondering just how much sense Dodge's return would make amid NASCAR's dwindling television ratings and attendance figures. It took a visit from Ferrari at NASCAR's biggest icon, Daytona International Speedway, for the Ferrari Challenge World Finals to get Marchionne on the subject of Dodge and stock car racing. When asked about the possibility on Sunday, the FCA boss revealed he'd just spoken to NASCAR executive vice president Jim France the night before about Dodge's return. Dodge announced its NASCAR departure in 2009, as it was in the grips of a major bankruptcy alongside cross-town rival General Motors. While GM's Chevrolet brand stuck it out and won three of the last four manufacturer championships, the final Mopar-powered team flipped to Ford in 2012. Marchionne takes the blame for the decision, citing reasons that are, frankly, very good. "I am the guilty party at the table. In 2009 we came out of bankruptcy; we couldn't [justify] racing in NASCAR when I was trying to pay bills and make payroll," Marchionne said, according to Autoweek. "I think we're in a different place now." NASCAR is in a different place, too. The sport has struggled with disappointing television ratings in the past several years, and it's not uncommon to tune into races at some of the sport's marquee tracks, like Bristol Motor Speedway, and see scores of empty seats. Sponsorship dollars are also drying up. That could explain Marchionne's non-committal follow-up comments. "We need to find the right way to come back in," Marchionne said, adding that he'd revisit the idea with Jim France and International Speedway Corporation CEO and NASCAR board member Lesa France Kennedy "in short order." Related Video:

Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.

Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng