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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

Ram, Jeep redesigns on hold, Alfa Romeo models may come sooner

Last summer, FCA outlined an ambitious five-year plan that sketched out the company's product intentions for each of its brands through the end of 2018. However, even the best strategies sometimes need tweaking. According to Reuters after speaking with unnamed people at auto suppliers, FCA is now possibly delaying at least a dozen projects in North America for a variety of reasons. From vehicle to vehicle, these postponements allegedly last anywhere from just a few months to over a year. The sources from the suppliers claim that in some cases these tweaks are for engineering and design changes. The next-gen Ram 1500 reportedly has among the shorter delays and is being pushed from mid-2017 to November 2017, according to Reuters. Also, the much-discussed future Jeep Wrangler is allegedly moving a little later to July 2017. Among the vehicles purportedly seeing longer delays, the next-gen Grand Cherokee could get pushed back about a year to 2018. That then forces the launch of the three-row, luxury Grand Wagoneer to be even further away. Jeep's upcoming C-segment CUV and the all-new Chrysler 300, Dodge Charger, and Challenger might also see postponements. The one brand allegedly seeing an accelerated plan is Alfa Romeo. Without going into detail, the sources from these suppliers claim that the Italian automaker is getting even more vehicles for its lineup and could get them even faster than planned. "Those plans need to be flexible and fluid, with the potential to add some vehicles, pull some forward and extend the life cycle of others," FCA said to Reuters about all of these allegations. "We look at these programs on a vehicle-by-vehicle basis." Investment in the auto industry has been a major topic for FCA CEO Sergio Marchionne as of late. He believes consolidation is necessary so that companies aren't burning money on the same projects. Related Video: News Source: ReutersImage Credit: Bill Pugliano / Getty Images Plants/Manufacturing Alfa Romeo Chrysler Dodge Fiat Jeep RAM Sergio Marchionne FCA fca us

Is America's last cheap minivan worth it?

Take a good look at this beauty. Because once she's gone there may be no turning back. The minivan market has been completely decimated over the past fifteen years. I could list all the former brands (dead and alive) that once formed the lynchpin of parenthood for this inherently conservative market. But that would involve at least fourteen commas, three sets of parentheses, and possibly even one 2000s-style recount. Back then, middle-class America loved these people-movers and even the well-to-do were glad to load them up with unique luxuries such as power sliding doors, captain's chairs, integrated child seats, and DVD players that entombed cacophonous kids into a temporary silence. Back in the '90s, the minivan market regularly realized well over a million sold units a year. In 2000, minivans finally hit their familial peak of 1.4 million vehicles in a year with the help of two top-20 bestsellers: the Dodge Grand Caravan and Chrysler Town & Country. Today the minivan just isn't popular. This year it'll likely represent only a half-million in annual sales, with not a single minivan hitting America's top 30 in overall volume. But as I always tell folks, "If you want a deal, you have to hit 'em where they ain't." So you want a cheap and affordable minivan for cash money that isn't a 15-year-old Plymouth in purple? Does it have to be new? Really? Well, if you're married to that type of person, this Grand Caravan with the American Value Package is the cheapest thing going. Deals can also be had on the mini-minivan Mazda5, but since it's been discontinued due to low demand, let's focus on the still-popular Chrysler minivan. The cost for this 2016 Dodge Grand Caravan according to TrueCar is right around $19,500 depending on where you live in the USA. But let's take a look at the 2015 models instead since they tend to have even stronger discounts during the wintertime thanks to manufacturers and dealers who are busy shoveling out all this older inventory. If you opt for a 2015 model instead, you're looking at a market price right around $17,800 and luckily these minivans are still sitting in multitude. Wanna click those rebate and incentive buttons? If you currently lease or finance a FIAT or Chrysler product, have AAA coverage, and finance the car with FCA, you can make off like the proverbial bandit for a price of only $15,229 before the dealer inflicts their bogus fee money dance.