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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.

What does Jeep have cooking with this stretched Cherokee?

Chrysler has been spotted testing what appears to be a stretched Jeep Cherokee prototype. Which seems odd, considering that Jeep already makes a Grand Cherokee, and that's an entirely different model. The question then is just what the company has in the works here. We don't know for sure – but we do have some ideas. We're anticipating a new Grand Wagoneer to serve as the brand's flagship model, but stretching the Cherokee's wheelbase to leapfrog the Grand Cherokee's would take more than eight inches – and stretching a "compact" platform to get there wouldn't seem to make a lot of sense. Alternatively Jeep could be looking to wedge a new model into its lineup in between the Cherokee and Grand Cherokee, potentially offering a third row of seats and wearing the Wagoneer name - sans the "Grand" - as part of a new range of seven-seaters. Just what the point would be, however, when the Dodge Durango already offers three rows based on the same platform as the Grand Cherokee, is a bit of a mystery. Another possibility is that it's not a Jeep at all, but rather a Dodge. The brand is in need of a replacement for the current Journey, and we're also waiting to see what FCA does to replace the Grand Cherokee since it unveiled the Chrysler Pacifica to replace the Town and Country. More of a crossover approach could take the Cherokee's Compact US Wide (CUSW) platform as its starting point, but stretched like this prototype to offer more space. Whatever it is, we're sure this won't be the last we'll have seen of it, so watch this space. Related Video:

Dirt Every Day tries to find the best 4x4 for under $4k

If you want to build a cheap truck that can still do dirty deeds off the beaten path, it's best to start with solid axles and a solid V8 engine. That sums up the lessons learned after watching the 2014 Cheap Truck Challenge from the Dirt Every Day video crew, who took to the deserts and surrounding areas near Reno, NV, in an attempt to find the best 4x4 for under $4,000. Fortunately for us, the whole sordid journey was captured on video.
This isn't the first time the boys from DED filmed a Cheap Truck Challenge, and this year's festivities pitted together a 1993 Chevy S10 pickup, a 1995 Jeep Grand Cherokee and a 1975 International truck in a series of challenges ranging from donuts to drag races, with plenty of hill-climbing and rock-crawling action in between. We don't want to spoil all the fun, but suffice it to say one competitor was found to be lacking while the other two performed (mostly) well. See for yourself in the video above.