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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 kills Cube, is US next?

Canadians, say goodbye to the quirky Nissan Cube. In fact, it's too late; it's already gone. The question now becomes whether the boxy model gets the axe in the US as well.
Nissan didn't exactly publicize the Cube's Canadian retirement. An Autos.ca reader noticed that the vehicle was no longer listed on the automaker's official site in the Great White North. He tweeted the company about it and was told, "Yes, the Nissan Cube has been discontinued in Canada."
The news certainly makes you wonder what the future for the model is in the US. The Cube isn't exactly a hot seller here, either. According to Nissan's last sales results, it sold just 356 units in April, down 23.9 percent from a year ago, and 1,604 vehicles from January to April, down 33.7 percent. Annual sales were as high as 23,000 units in 2010, but they started dipping as early as 2011.

Nissan Leaf hits 3,000 sales in July, Chevy Volt climbs over 2,000

It was a good sales month for both the Nissan Leaf and the Chevy Volt, with the two 'elder statesman' plug-in vehicles reaching numerical milestones in July. The Leaf sold 3,019 units and the Volt crossed the 2,000 sales level for the first time in 2014, hitting 2,020 sales. With Tesla also announcing it is delivering around 2,500 Model S EVs a month (but that's globally, compared to the US-only numbers for the Volt and Leaf we're talking about here) and Ford's plug-in vehicles selling well, we are certainly in a golden moment for EV sales. The Volt was a bright spot for the Bowtie brand last month. For the Volt, the 2,020 units sold represents a 13 percent increase from July of 2013 even thought year-to-date sales are down 8.7 percent this year compared to last year. Overall, total Chevrolet deliveries for July 2014 were up eight percent compared to 2013, so the Volt was a bright spot for the Bowtie brand last month. On the Leaf front, this is only the second time that the EV has sold more than 3,000 units in a month (the other being in May of this year). The year-over-year increase for the Leaf was 62 percent in July and represents the 17th straight month of record sales, as Nissan is more than happy to report each month. Overall, Leaf sales are up 34.6 percent, year-to-date, and Nissan's director of Leaf sales and infrastructure, Brendan Jones, said in a statement that a free public charging incentive was responsible. "Since we launched the No Charge to Charge promotion in the first 10 markets, we've seen a surge in Leaf sales in those areas. Leaf sales in the northeastern US are also picking up with new tax incentives for Massachusetts and Maryland residents." With No Charge To Charge set to expand to 25 markets over the next year, we expect Leaf sales to continue to grow. We will have our monthly look at all green car sales available soon, so stay tuned. Green Chevrolet Nissan Electric PHEV ev sales