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Vans aren't glamorous, but they're key to EU blessing FCA-PSA merger

MILAN/PARIS — Their silhouettes don't stir dreams of adventure like a sports car or trendy SUV, but vans are a rare source of profit for European carmakers, which is why EU regulators are focused on them as they decide whether to back an industry mega-merger. European competition regulators are worried that Fiat Chrysler and Peugeot maker PSA's proposed merger may harm competition in small vans. With a total of 755,000 vans sold last year in Europe, the combined Fiat Chrysler (FCA) and PSA would get a market share of around 34%, based on industry data, more than double that of Renault and Ford, with shares around 16% each. Volkswagen and Daimler follow with market shares of 12% and 10% respectively. "Commercial vans are important for individuals, SMEs and large companies when it comes to delivering goods or providing services to customers," European Union competition chief Margrethe Vestager said in a statement, announcing an in-depth investigation into the proposed merger. "They are a growing market and increasingly important in a digital economy where private consumers rely more than ever on delivery services." Dario Duse, a managing director at consultancy firm AlixPartners, said demand for vans was not based on people's disposable income, as for cars, but rather on GDP and industrial trends, and in particular the logistics industry, where big players such as Amazon or DHL operate. "Logistics is a business segment which is having a significant growth, for several reasons including e-commerce, where you need efficient and agile vans for interurban and city deliveries," he said. "LCVs (light commercial vehicles) may recover faster than passengers cars in the post-COVID-19 phase." Sales of vans up to 3.5 tonnes in Europe amounted to 2.2 millions vehicles last year, compared to 15.8 million for passenger cars, according to data provided by the European Auto Industry Association (ACEA). The light commercial vehicles (LCVs) market may be secondary in terms of volumes, but it remains highly profitable in an industry where margins are constantly under pressure. Margins are generally higher than on passenger cars, up to 5-10 additional percentage points, AlixPartners says. "With LCVs you don't have to fulfill a series of consumer expectations that drive additional complexity and costs, such as for interiors. LCV customers are more rational and business driven," Duse said. And while electrification in heavy trucks is complicated, it might come sooner for LCVs.

2023 Fiat 500e Abarth revealed, quicker than the gas model

The much-loved Fiat 500 Abarth finally has a successor, and now it's electric. The 500e Abarth takes the regular model and adds a much more powerful electric motor, plus sportier styling. And while outright power is less than the top gas model, Fiat says that the new Abarth is faster on track. On the outside, the Abarth features the brand's name plastered across the nose in place of the regular "500" logo and chrome bar. The scorpion badge now sits on top of the hood. The front bumper is unique with more aggressive air vents and a deeper air dam. The side skirts are new, too, and the rear bumper diffuser gets white inserts to match the front air dam. The Abarth scorpion badges on the sides have been tweaked to fit the electric theme, and the car gets new 18-inch wheels and some of the coolest side stripes we've seen in some time. Inside, the Abarth in the launch Scorpionissima trim gets a three-spoke steering wheel, Alcantara upholstery and stainless steel pedals and door sills. The major performance upgrade for the 500e Abarth is the motor. It makes 153 horsepower and 173 pound-feet, compared to the next most-powerful 500e at 118 horsepower. It will get the little hatchback from 0 to 62 mph in 7 seconds. Fiat didn't say much about suspension and brake upgrades, but we assume they've been improved to match the sporty pretensions of the Abarth. Especially as Fiat says the electric Abarth will lap the company's Balocco test track more than a second faster than the current gas-powered 500 Abarth 695, which packs 180 horsepower. Certainly the lower center of gravity, wider track and longer wheelbase play some role, but there are likely other upgrades at work. The Abarth won't be going farther than the regular 500e, though. It uses the same 42-kWh battery, which returns 199 miles of range on the WLTP cycle in the 500e. In the Abarth, with its more powerful motor, range is likely to decrease somewhat. Owners worried about the lack of sound from an electric car won't have to worry about that with the Abarth. Available is an external sound generator. It can produce an emulated exhaust note based on the gas-powered Abarth models audible to the driver and to passersby. Fortunately, it can be switched off, too, if you don't like the idea of fake exhaust sounds. We sort of wish they opted for a more creative and less "realistic" sound like Dodge did with the Charger Daytona concept and its Fratzonic exhaust sound generator.

Tom Hanks' custom 1974 Fiat 126p has sold for $83,500

Actor Tom Hanks has sold his custom 1974 Fiat 126p at auction for $83,500. It's a notable sum for a 23-horsepower Polish-built microcar, but it's not even the most interesting part of the story. That would be how the Saving Private Ryan star came to possess the car, which was never officially sold in the U.S. in the first place. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The "Polski" Fiat 126p was built in Cold War Poland under license from Fiat while the country was still under communist rule. A successor to the original Fiat 500, the model was particularly long-lived. Fiat built about 1.4 million of them in Italy from 1972-1991. However, that number pales in comparison with the estimated 3.3 million additional cars from Bielsko-Biala, Poland, where the car was manufactured until 2000. Cars built in Poland were denoted 126p, and locals nicknamed them "Maluch," or "small one" in Polish. They were still prevalent in former Eastern Bloc nations like Hungary in 2016 when Hanks visited the country. As an apparent joke he posed next to a few street-parked examples that he came across, posting the subsequent photos to Twitter with the caption "So excited about my new car!!" According to The Drive, a Hanks fan named Monika Jaskolska, a resident of Bielsko-Biala, saw the tweets and made it her mission to get one for him. Jaskolska ended up raising enough money, along with corporate sponsors, to not only restore a 126p, but build a custom interior for Toma Hanksa, as he's known as in Polish. Because the Philadelphia actor was known for collecting typewriters, they customized the interior switchgear to resemble keys from a vintage one. Some of the money raised also went to a local pediatric hospital. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The car was given an unveiling ceremony in Poland before it was delivered to Hanks in Los Angeles via cargo jet, just in time for his birthday. In addition to the custom interior, the car features some exclusive badging and a Forrest Gump quote on a plaque affixed to the dashboard, so there's no confusing it with a regular Polski Fiat. Now, however, it's time to move the car on to a new owner. Hanks is donating the full sale amount to Hidden Heroes, which supports military caregivers, the spouses and parents of injured or ill servicemen and servicewomen.