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Fiat Chrysler CEO says final merger talks with Peugeot going well

BRUSSELS — Fiat Chrysler's chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA  to create the world's No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months. Speaking to Reuters on the sidelines of an industry meeting, he said he doesn't expect any major obstacles that could delay a final agreement. "Talks are progressing really well," Manley said about negotiations with the French carmaker ahead of a briefing by the European automotive association (ACEA), of which he is president. His comments come a month after the two carmakers agreed to a binding deal worth about $50 billion to combine forces in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations. Manley's timeline for completing the deal by early 2021 is in line with a forecast made by the companies in December. Fiat and Peugeot are now getting into the details of how the merger will work, including choosing which vehicle platforms — the technological underpinnings of a vehicle — will fit which products in a combined company. Because customers in different locations still prefer vastly different cars, there is room for multiple platforms in a combined group, Manley said. "That global platform is an elusive beast," he added. "This concept of a massive global platform in my mind is almost a myth, but that doesnÂ’t mean to say weÂ’re not going to recruit significant volume." Related Video:    

Jeep and Ram could be spun off from FCA, says Marchionne

Jeep is surely the biggest single feather left in the cap of the Fiat Chrysler Automobiles portfolio. Under Sergio Marchionne's leadership, Jeep went from fewer than 500,000 annual sales in 2008 to 1.4 million in 2016, and is on track for 2 million by 2018. Add in the brand's legacy, status as one of the most recognizable nameplates in the world, and rabid fan base, and Jeep has extraordinary monetary value to its parent company. Investors and analysts have certainly noticed Jeep's inherent value. According to The Detroit Free Press, Morgan Stanley's Adam Jonas asked FCA chief Sergio Marchionne if he would ever consider spinning Jeep and Ram, FCA's dedicated truck brand, into a separate corporate entity, and he responded with a simple "Yes." Jonas estimated Jeep's worth in January of this year at $22 billion. Ram was valued at $11.2 billion. Marchionne has a history of spinning off brands while keeping them part of FCA's corporate umbrella. The most noteworthy example of this value maximization was with Ferrari, which now trades on the New York Stock Exchange and rakes in $3.4 billion in annual revenue and close to $435 million in net income, reports the Free Press. Marchionne still serves as chairman and CEO of Ferrari, and Fiat heir John Elkann owns 22 percent of the Italian marque's shares. Even if the offloading of Jeep and Ram into a separate entity would amount to little more than a profit-driven ownership change on paper, it would be huge news to the brands' loyal fanbases. In any case, such a move would likely take years to actually happen and probably wouldn't mean much at all to the products that Jeep and Ram produce. In other words, Jeep fans can keep the pitchforks in the shed ... for now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Texas student drives Barbie Jeep to school after DWI

A Texas college student who lost her license when she was charged with a DWI this spring found a creative way of getting around campus. Tara Monroe, 20, is a student at the University of Texas at Austin. She had her driver's license automatically suspended when she refused a breathalyzer test after leaving a Waka Flocka concert on March 4. He dad took her car away and left her with a bike. But that just wasn't classy enough for Monroe. "Riding a bike around campus sucks," she told MySA.com. "Like really sucks." She searched Craigslist to find an alternative and settled on a bright pink Fisher-Price Barbie Jeep Power Wheel toy to help lug her stuff around campus. She named it after the original owner, a little girl named Charlene. The unorthodox ride has turned Monroe into a minor celebrity. Pictures of her slowly making her way around campus in the toy car have been popping up on social media. "This is the best way I could have gotten my 15 minutes of fame," she said. "Basically, it was the best decision I've made in college, yet..." The Barbie Jeep has a 12-volt battery and only goes about five miles per hour. Monroe says she loves the attention she is getting from her immature hijinks. If you enjoy the sight of adults crammed into Power Wheels check out our attempt to cruise around the Autoblog office in a tike-sized Ford F-150. News Source: mySA.com Humor Weird Car News Jeep Driving Electric Videos college power wheels student barbie