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PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

Nissan Canada to end Versa sales with Micra launch

There's plenty of space in Canada. In fact, with the second largest land mass of any country in the world, Canada has a population density of just nine people per square mile. But apparently there isn't enough room for more than one cheap Nissan in the True North, Strong and Free.
As you may recall, Nissan Canada recently announced it would begin offering the Micra hatchback with a starting price of less than ten thousand Canadian dollars - significantly less than the nearly $12k it charges for the Versa sedan. As a result, Nissan will reportedly cease offering the Versa sedan in new home of the olympic gold medal for hockey.
Apparently the Versa was a slow seller in Canada, a country in which European tastes tend to prevail - particularly in the Eastern provinces - more than they do in the United States to the south. Nissan evidently hopes that the Micra (a model created principally for the European market) will do better than the American-centric Versa ever did there. According to sales numbers cited by Automotive News, Nissan sold barely more than 12,000 Versa sedans and hatchbacks in Canada last year, but over 117,000 in the United States.

Nissan, Toyota offering payment deferments to people affected by government shutdown

Two weeks into the budget-related government shutdown and it sounds like some progress is finally being made, but that doesn't really help furloughed government employees pay their bills. To help out a little, Nissan and Toyota are joining Hyundai with offering payment deferments to current owners and lessees.
In a release, a Nissan spokesperson said the company is "sympathetic to any of our customers who find themselves in difficult financial circumstances - many times outside of their control."
Both Japanese automakers are allowing payment extensions of up to 90 days without penalties or fees. Unlike the Hyundai Assurance Plan, though, it doesn't seem like the Nissan or Toyota assistance will be extended to those who are still in the buying process. Scroll down for press releases from both companies about their respective payment deferment programs.