Auto blog

Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

Mopar showcases modified Jeeps in Dubai

Showing that FCA is serious about expanding its global reach, Jeep and Mopar have rolled in to the Dubai Motor Show this year with three modified off-roaders. One is based on the Cherokee, and the other two are wrought from the Wrangler. But it's the Cherokee that's getting the lion's share of attention. The vehicle you see pictured here is called the Jeep Cherokee KrawLer. It's based on the Trailhawk, but adopts some special equipment to set it apart. It packs a modified suspension, BFGoodrich off-road tires, widened fenders, skid plates, a pseudo-military matte green paint job and a matching green leather interior from Pelle Frau. Power comes from the 3.2-liter Pentastar V6 driving 272 horsepower through a nine-speed automatic and locking rear differential to all four wheels. The name KrawLer emphasizes the KL code by which the current Cherokee is known. Alongside the Cherokee KrawLer, Mopar and Jeep are also showcasing a pair of modified Wranglers. One is the Sahara Sun Runner, done up in matte yellow with a four-inch lift kit and half-doors. The Wranger Dark Side, meanwhile, is based on a two-door Rubicon and features giant tires, flat fenders, and an array of other Mopar components. Alongside those, Jeep is showcasing the Renegade for the first time in the Middle East. Meanwhile, Mopar is also demonstrating its enhancements for the Chrysler 200, Dodge Charger R/T, Dodge Challenger Hellcat, Ram Rebel, Fiat 500X, and the new Fullback pickup from Fiat Professional. The Fiat division will also be on hand to show the new Tipo sedan as well. 10 November 2015 The Jeep® Brand at the 2015 Dubai International Motor Show - Premiere for the Middle East of the new Jeep®; Renegade - Three show cars fitted with exclusive Mopar®; accessories: Cherokee KrawLer, Wrangler Sahara Sun Runner and Wrangler Dark Side to star on the stand - Reinforcing the breadth of the Jeep brand, the full current vehicle line-up will be on show at the Middle East's leading automotive event Making its debut for the first time at a leading motor show in the Middle East is the new, recently-introduced Jeep®; Renegade, the compact SUV that boasts the best off-road performance in its segment alongside three Moparised show editions: Cherokee KrawLer, Wrangler Sahara Sun Runner and Wrangler Dark Side.

China orders Jeep to investigate Wrangler fire risk

It's been some time since we've heard anything about fires related to the Jeep Wrangler (foreign or domestic), but it sounds like the go-anywhere SUV could be in hot water once again in China. Bloomberg is reporting that the Chinese government is ordering Jeep to investigate the matter and, in the meantime, also recommending Wrangler owners to not drive their vehicles in "extreme conditions" due to a "relatively high risk" of catching on fire.
There is no indication as to how many vehicles or which model years are affected, but the previous fire problems in both the US and China - which led to investigations but no recalls - were traced back to automatic transmission fluid leaks. The article, however, does not say what the potential problem is this time around as Jeep has not released a comment on the matter. The official notice, in Chinese, can be found here.