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FCA compromises with France, moving Renault merger bid forward

FRANKFURT/PARIS – Renault directors were preparing to review Fiat Chrysler's $35 billion merger offer on Tuesday, after the Italian-American carmaker resolved differences with the French government overnight, three sources said. The compromise on French government influence over a combined FCA-Renault may clear the way for Renault's board to approve a framework agreement beginning the long process of a full merger, unless new issues surface at the meeting. France, Renault's biggest shareholder with a 15% stake, had been pressing for its own guaranteed seat on the new board and an effective veto on CEO appointments. But after late-night talks with FCA Chairman John Elkann, the French government has accepted a compromise that would see it occupy one of four board seats allocated to Renault, balanced by four FCA appointees, the sources said. Renault would also cede one of its two seats on a four-member CEO nominations committee to the French state, they said. Renault, FCA and the French government all declined to comment on the discussions. The same evening that the compromise was was negotiated, activist hedge fund CIAM wrote to the board of Renault to say it "strongly opposed" a planned $35 billion merger with Fiat Chrysler. Calling the deal "opportunistic," the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium. (Reporting by Arno Schuetze and Laurence Frost; additional reporting by Giulio Piovaccari in Milan and Simon Jessop; editing by Jason Neely and Rachel Armstrong) Government/Legal Chrysler Fiat Mitsubishi Nissan Renault merger

Nissan tests fully autonomous ProPilot tech on Tokyo roads

We've been hearing a lot about Nissan's ProPilot technology lately. ProPilot Assist is coming to the U.S. in the Rogue, as well as the Leaf EV. For this generation, the system allows for Level 2 autonomous driving, which is essentially adaptive cruise control paired with a lane-keeping function. Later, Nissan will add ProPilot Park, which allows the car to park itself. The next generation of ProPilot, though, allows for Level 4 fully autonomous driving, even on urban streets, beginning in 2020. Nissan has announced that it has already tested it on public roads during a demonstration in Tokyo. The prototype test vehicle is an Infiniti Q50. It's fitted with 12 cameras, 12 sonar sensors, nine millimeter-wave radar sensors, six laser scanners and high-definition mapping, all run through artificial intelligence. With this combination of hardware and software, the Q50 prototype can navigate across town or on the highway, automating the entire driving duties from the moment the passenger selects a destination until their arrival. It can tackle busy intersections and respond to obstacles in the road, providing what Nissan claims is a "human-like driving feel that gives passengers peace of mind." View 29 Photos "Our next-generation ProPilot prototype showcases technology that will be available for real-world use from 2020," said Takao Asami, Nissan's senior VP of research and advanced engineering. "Today's demonstration is another example of our successful work toward creating an autonomous driving future for all." Autoblog has already had the chance to sample the current generation of ProPilot Assist, in both the Leaf and the Rogue. While there has been a little bit of disagreement in our office, most of us have found the technology to work fairly well, and are looking forward to trying the next generation of semi-autonomous and autonomous systems. As the tech advances, it will only get smoother and smarter. Related Video: News Source: Nissan Green Infiniti Nissan Technology Emerging Technologies Autonomous Vehicles Electric Videos Sedan nissan propilot propilot

Car theft skyrockets thanks to rising parts prices

Cars and trucks today have achieved a high level of average quality, with safety and technology features that keep occupants safer than ever and meet consumers' high expectations. But the National Insurance Crime Bureau finds that those components come with a rising price tag, leading to expensive repair bills — and rising vehicle thefts to support a thriving black market for parts. The nonprofit NICB said it looked at the cost of replacement parts for the top 10 stolen 2016 models, with average OEM part prices pulled from a database of more than 24 million vehicle damage appraisals generated for 2016 and 2017 insurance claims. The list did not include major components like engines or transmissions, only easily-stripped components like bumpers, doors, hoods and headlights. It found that: The 2016 Toyota Camry, which had a used market value of around $15,000, had 15 commonly replaced parts that added up to almost $11,000, not including labor, with quarter panels alone costing almost $1,600 a pair and a set of alloy wheels tallying more than $1,600. The Camry was also the top stolen vehicle in 2016 at 1,113 thefts. A 2016 Nissan Altima had 14 standard parts worth more than $14,000, including a single headlamp assembly that costs just over $1,000. The Altima was the second-top stolen vehicle in 2016 at 1,063 vehicles stolen. And the 2016 GMC Sierra pickup, which was No. 7 on the 2016 top-stolen list, rang up $21,000 from 20 standard components, including an $1,100 headlamp assembly and an $1,100 rear bumper. "For the professional theft ring, stealing and stripping vehicles for parts has always been a lucrative business," Jim Schweitzer, NICB's senior vice president and chief operating officer, said in a statement. "On today's cars and trucks, the parts are often worth more than the intact vehicle and may be easier to move and sell. That's why we see so many thefts of key items like wheels and tires and tailgates ... there's always a market for them." Check out the NICB infographic below. Vehicle thefts in the U.S. rose by more than 4 percent in 2017, based on preliminary FBI data, after rising 7.6 percent in 2016, though the overall trend has been down since vehicle thefts peaked in 1991, according to the NICB. Related Video: Image Credit: National Insurance Crime Bureau Aftermarket GMC Nissan Toyota Auto Repair Insurance Ownership auto parts car values stolen car nicb national insurance crime bureau components