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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.

2015 Jeep Renegade Trailhawk [w/video]

There are two avenues to the world of off-roading. Arguably the more popular is to pick up a second- or third-hand Jeep, Land Rover or pickup truck and go wild with the aftermarket. The opposite approach, though, is to simply buy new, which brings a warranty along with the most up-to-date off-road tech fitted by the factory (despite likely lacking the ultimate capability of an aftermarket-imbued vehicle). That second option has, traditionally, been pricey. Take our long-term Jeep Cherokee Trailhawk, which rings up at just over $38,000. A Ford F-150 SVT Raptor is going to be an even more expensive proposition, while the undisputed kings of luxury off-road performance from the factory – the Range Rover, Toyota Land Cruiser and Mercedes-Benz G-Wagen – will require ownership of a medium-sized oil well. With all due respect to those who take their Trail-Rated Jeep Patriot models off-road, the all-new Renegade Trailhawk is such an exciting proposition because it brings the cost of a warranty-backed off-roader down significantly, while also delivering a degree of trail-rated performance that should easily fulfill the needs of the average enthusiast. Drive Notes Before we get into what it adds, it's worth noting that the Trailhawk trim does have a small impact on the Renegade's on-road abilities. As we said in our original feature, the TH adds a significant amount of weight to the standard CUV, as it tips the scales at nearly 3,600 pounds. That mass, combined with the slightly higher stance, means the off-road model doesn't handle quite as well as a lesser Jeep. It also doesn't feel as fleet of foot, as it retains the same 2.4-liter, 180-horsepower four-cylinder and nine-speed automatic found throughout the Renegade range. Despite the downers, the Trailhawk trim does bring quite a lot to the Renegade package, most notably in the form of a bespoke version of Jeep's Active Drive all-wheel-drive system. The upgraded system features a dedicated 20:1 crawl ratio while the Selec-Terrain system is home to a new Rock setting. Beyond that, Jeep lifted the Renegade's ride height eight-tenths of an inch, increasing overall ground clearance to 8.7 inches and delivering 8.1 inches of wheel articulation. This is complemented by unique front- and rear-fascias, which up the approach and departure angles to 30.5 and 34.3 degrees, respectively, besting the Cherokee Trailhawk's 29.8 degrees and 32.1 degrees.

Jeep idles second shift it hired a month ago for 2014 Cherokee

In an unusual move, Chrysler is idling its recently hired second shift of 2014 Jeep Cherokee builders because, Chrysler spokeswoman Jodi Tinson said in a statement, it already has built the "critical number of vehicles we need to stock dealerships once containment is released," Automotive News reports.
After the "critical" 9,430 Cherokees were built, the layoff was enacted so as not to strain the automaker's logistics partners before the Cherokee is actually released. Chrysler says the temporary layoff will last about two weeks, with 500 workers out of work and another 600 reassigned at the Toledo Assembly Complex where the sports utility vehicle was being built. The second-shift workers were hired on August 19.
Chrysler previously insisted that it would release the Cherokee to dealerships by the end of the third quarter, and it initially planned to start selling the SUVs in mid-August. Apparently the Cherokee needed a software fix before hitting showrooms, which is how Chrysler explains why the release schedule is out of whack. We're thinking that this software fix addresses the "powertrain calibration" issue that delayed the first media test drives of the model. According to the Toledo Blade, Chrysler has admitted it is doing "extended quality validation testing" but refused to provide more information.