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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 pokes fun at Tesla's New Jersey woes, then deletes Tweet

Ever have one of those moments when you release something out onto Twitter, only to think better of it a little while later and reach for that garbage can icon? If so, you are not alone. In fact, you're in the company of a certain Japanese automaker, who recently joined the ranks of those who've suffered an embarrassing bout of tweetus deletus. The Nissan Leaf social media team apparently thought it would be amusing to take a light poke at Tesla Motors and its New Jersey dealer fight woes on its Twitter feed and put together the cheeky graphic which you see above. It was originally published on the micro-blogging network accompanied by the text, "It's okay #NewJersey, you can still #GoElectric with the #NissanLEAF #EV." Funny, right? Not to everyone. The image attracted a bit of mild criticism which, to their credit, Nissan responded to saying, "It's all in #EV love." Soon, however, the original image disappeared from the @NissanLEAF feed. Luckily, we saved a copy for your edification. Rob Robinson, senior specialist of social communications for Nissan, told AutoblogGreen that the Leaf Twitter account is run by an agency, and that the tweet in question, "Was not a tweet that was reviewed or approved by Nissan. We saw it and asked them to take it down." As for the reasoning, Robinson said that, "We thought it was a discussion we didn't need to be weighing in on." While we can see the Nissan point of view, we also appreciate the attempt at being irreverent. Anything to break up the monotony of the stale toast the account usually offers up – "What would you nickname your Nissan Leaf if it was Ocean Blue?" which is the last undeleted Tweet available on the feed, as of this writing. We actually applaud the intention of the Tesla post. It all makes us wonder, though, if the social media team over there isn't in need of a little input on how they might improve its outreach. Since we know our readers are not shy in offering suggestions, we ask you to leave your thoughts and ideas for them in the Comments.

Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan