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Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

GM, FCA retain financial advisors amid merger rumors

Well, here we go again. Despite allegedly shutting down the idea of a merger, General Motors has retained financial advisors to, well, advise it on Fiat Chrysler Automobiles' advances. GM brought in New York-based Goldman Sachs, while FCA is currently working with Switzerland's UBS. Another source told Reuters that GM was working with Morgan Stanley, as well. But what does all this mean? Well, as we know, FCA boss Sergio Marchionne still has his eyes set very much on merging his automaker to combat what he claims are the prohibitive costs that come from developing today's vehicles. And while GM has said "no thanks," to a merger, the FCA boss is still looking to shareholders of the world's third-largest automaker to force the issue. Rather than a sign of an impending merger, voluntary or otherwise, between the two automotive powers – analysts called a hostile move by FCA "beyond ambitious," after all – retaining financial advisors on both sides could be viewed as just good business. News Source: ReutersImage Credit: Paul Sancya / AP Chrysler Fiat GM Sergio Marchionne FCA

Ram and Fiat working on possible midsize pickup for global markets

The midsize pickup segment is enjoying a recent boom globally, with updated models like the new Ford Ranger on the way and a revised Toyota Hilux already testing. The next automaker to take the plunge into the market might be FCA with this recently spotted, highly camouflaged truck. Click through the gallery to see the pickup wearing two different disguises during cold-weather testing. Unfortunately, they keep the truck very well hidden, and even the bed is covered in both of them. Still, it appears that the front end wears a fairly upright design, and the four-door cab is obvious. Also, take a look at the rear to spot coil springs for the suspension, rather than leaf springs. According to our spies, this vehicle's size is larger than the current front-wheel drive Fiat Strada and is closer in dimensions to models like the Ranger and Hilux. Of course, the most intriguing question is whether FCA might bring this vehicle to the US as a Ram competitor against the Chevrolet Colorado and GMC Canyon. The company's five-year plan makes no mention of such a model here through at least 2018, though. However, Europe and South America are set to receive a midsize pickup in 2016. Perhaps, that's what we are seeing here. Related Video: Featured Gallery Fiat-Ram Pickup Spy Shots View 14 Photos Image Credit: CarPix Design/Style Spy Photos Fiat RAM Truck FCA