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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

Mercedes and Infiniti confirm joint production in Mexico [w/video]

It's official, folks: After initial reports last week indicated that Mercedes-Benz was preparing to begin assembly at the Nissan plant in Aguascalientes, Mexico, the two parent companies have announced just that. Only instead of using the existing Nissan plant at the site (in operation since 1992), Daimler and the Renault-Nissan Alliance have announced a joint venture to build a new one alongside it.
The latest stage in the growing French-German-Japanese collaboration is part of a new collaboration that will see Infiniti and Mercedes jointly develop and build a line of compact premium vehicles, with the first Infiniti models set to roll off the assembly line in 2017 and the first Benzes to follow a year later. Neither party announced exactly which models that would encompass, but Mercedes already has a robust line of small vehicles (including the A-Class, B-Class, CLA and GLA), and Infiniti has long been toying with the idea of slotting in something smaller below the Q50.
The billion-euro project, split evenly between the two industrial giants, is set to create 5,700 new jobs in Mexico. In addition to the Aguascalientes project, Infiniti and Mercedes are also undertaking joint production of four-cylinder engines (initially for the C-Class and Q50) in Decherd, Tennessee, from which they will be exported around the world. By the time the new factory in Mexico reaches full capacity in 2021, it will have the capability to produce 300,000 vehicles annually. That's on top of the 850,000 vehicles the existing facility is capable of handling.

Ford and Lincoln design honcho leaves to head Nissan North America design

Last Friday, David Woodhouse suddenly resigned from his dual positions as Ford's director of global strategic design and director of Lincoln design. In a post not long after leaving, he praised the efforts of his former team over the past six years he headed design at Lincoln. Among other products, that crew gave us the redesigned Navigator, the Continental concept and production sedan, and the Aviator concept and production crossover. Car Design News reports Woodhouse traded Michigan for California, taking the role of VP at Nissan Design America in San Diego. He officially assumes the position July 1, and will also serve on the Japanese automaker's Global Nissan Design Management Committee. Woodhouse has spent more than 25 years in the design department, starting with BMW and work on the Mini and Range Rover brands, followed by a brief stint with Cadillac of Europe. For the past 20 years he's been with Ford, coming on board with the Ford's former luxury arm known as the Premier Automotive Group — Jaguar, Land Rover, Aston Martin, Volvo and Lincoln. He became Lincoln's design director in 2013, introducing the world to the design language labeled "quiet flight." He described the language's details as "anti-wedge body gestures, S-curves wherever possible, and an emphasis on horizontal lines at every opportunity to create leaner, longer, wider emphasis on the exteriors, and create equilibrium, balance, and calmness on the interiors." A much shorter way to describe it is: revitalized Lincolns. The U.S. luxury maker's new and overhauled products have been praised for their lines by critics and by paying customers. The brand's done so well it's hard to remember when the MKC concept was a revelation, and that goes on Woodhouse's resume, too. That's some special juju to take to Nissan, where Woodhouse will lead both Nissan and Infiniti design focused on the North American region. Nissan has a solid if uninspiring lineup that sells well here, while Infiniti, as the luxury brand, is the bigger issue. Infiniti sedans glide on the contrails of a design language more than 10 years old. The money-making crossovers and SUVs haven't made a splash in about the same time, since the long-ago FX45. Nissan's plan to update 70 percent of its lineup over the next few years and Infiniti's transition to an all-electric brand makes right now the perfect time to break into riveting designs for the street. Woodhouse replaces Taro Ueda, who moves into a global role with Nissan.