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Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Build a Jeep Gladiator 392 next? The Hummer H3T Alpha blazed the trail

The 2021 Wrangler Rubicon 392 will combine the go-anywhere capability of a Jeep's iconic off-roader with the grunt of a V8 for the first time in decades. As cool as that is, we can't help but think Jeep is missing out on a huge opportunity to pair that 470-horsepower, 6.4-liter Hemi V8 with the Wrangler's pickup cousin, the Jeep Gladiator, in the form of a Mojave 392.  Autoblog took part in a media Q&A session with Jeep ahead of the Rubicon 392's announcement in which the company's product higher-ups said that there are currently no official plans to build a 392 variant of the Gladiator pickup. But whether or not Jeep has plans, it certainly has precedent, and from our perspective, a market.  Rewind to 2008, better known as one of the worst possible years to introduce a gas-guzzling, V8-powered pickup truck. Enter the 2009 Hummer H3T Alpha, the first variant of Hummer's midsize truck/SUV hybrid to be offered with a 5.3-liter V8. The 300-horsepower small-block was an upgrade to the sturdy but relatively uninspiring 3.7-liter inline-5 that the H3 lineup had inherited from its midsize pickup platform mates.  As our Jeremy Korzeniewski noted in the Rubicon 392's introductory piece, an open-top Jeep has not been offered with an optional V8 for as long as the "Wrangler" nameplate has existed. The last Jeep 4x4 to do so was still a CJ, or civilian Jeep, and the 304 cubic-inch engine came from American Motors Corporation. Incidentally, this generation of the Wrangler is also the first to be offered in a pickup variant. Cue the beard-stroking.  Now, frankly, it's not even remotely fair to compare the H3T's powertrain offerings to the decade-newer Gladiator's, but the Hummer actually boasts a few advantages over Jeep's modern pickup. While most of the Jeep's off-road specs give it an edge, the Gladiator doesn't come close to the H3T's 30.1-degree departure angle, for instance. And in more practical terms, the stubbier H3T has other maneuverability advantages. The Gladiator has 3" of wheelbase and 5" of overall length on the H3T, and a 22.4-foot turning radius to show for it. The Hummer's? Just 18.5'.

Marchionne wants to nearly double Jeep sales by 2018

Jeep just keeps breaking its own sales records. A couple of weeks ago, the off-road brand announced its worldwide sales exceeded one million units for the first time, marking its third consecutive global record and the fifth straight year of sales increases here in the US. But FCA isn't about to stop there. TheDetroitBureau.com reports that chief executive Sergio Marchionne, speaking to the media at the Detroit Auto Show, has announced a new sales target for the Jeep division: By 2018, he wants to see Jeep sell 1.9 million units in a single year, nearly doubling its all-time record. The expansion will surely encompass new products, with the all-new Renegade just warming up, a next-generation Wrangler on the way and a reborn Grand Wagoneer in the pipeline, as well. But the focus of FCA's preparations to reach the new target is on production capacity. While it's not clear whether the Toledo, OH plant where half of all the Jeeps sold around the world are currently built will continue to host the next Wrangler, FCA is expanding production overseas. The Renegade is already being built alongside the Fiat 500X in Italy, where another 1,000 workers are being re-hired and where another factory is set to start producing Jeeps, as well. A Renegade-based variant for the South American market will soon be built in Brazil, and by the end of this year, Jeep aims to start local production in China.