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Hyundai reportedly eyeing a takeover of FCA

The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover

Over 1,000 Ram pickups lap Nurburgring in world record parade

How many Ram trucks would you think you'd see in one place anywhere outside the US? If you by any chance happened to be at the Nurburgring Nordschleife track in Germany the past weekend, you would have seen a great deal of them, as Ram enthusiasts grouped together to set a Guinness World Record. The record called for as many pick-up trucks as possible to form a parade, with the previous, Mexican-set record having consisted of 638 trucks; the earlier Ram-specific record featured 451 trucks. On November 5th, as many as 1,152 Ram trucks gathered at the 'Ring, and of course a lap of the Nordschleife track was the place for the actual parade. This video, which is more than a half-hour, shows the multitude of Rams slowly lapping the track, with flags waving in the cold November air. Honking horns was strictly prohibited, and the Rams did not off-road through the Adenauer Forst S-bend's grass. This is also one of the rare Nurburgring videos where no-one crashes into the railings at great speed. The parade was arranged by a vehicle trading company called AutoGlobalTrade, which originally aimed for 1,317 trucks to arrive at the Nurburgring, but the official number is still something to be proud of. The majority of the trucks were German, with some Rams having arrived from neighboring countries. Related Video: News Source: RamWorldRecord via PistonHeadsImage Credit: EMS Nordschleife TV Weird Car News Dodge RAM Truck Videos

Ford F-150 could be affected by tornado-damaged supplier in S.C.

The disruption caused by a tornado that severely damaged a South Carolina auto-parts plant and killed a contract security guard last week could be felt by more automakers than just Ford and affect more than just its best-selling F-Series pickup, which is due for an update. And there’s still no estimate for when operations might resume at the plant. The Detroit Free Press reports that the BorgWarner plant in Seneca, near Greenville, makes transfer cases for F-150 and Super Duty pickups, the Ford Explorer and Expedition, Transit cargo vans, and Lincoln Navigator and Aviator SUVs. ItÂ’s also a supplier for the Ram 1500 and Toyota Tundra trucks. Transfer cases shift power from the transmission to the front and rear axles in four-wheel-drive vehicles. BorgWarner says it still has no update for when it might partially or fully resume operations. The tornado that ripped through the area in the western part of the state on April 13 tore the roof, walls and signage off the factory and killed a 77-year-old contract worker when the security building he was sheltering in collapsed. Only four or five others were inside the plant, which has been idled because of the coronavirus outbreak, when the tornado struck. In an SEC filing on Friday, Ford said it has sent employees to the site to help BorgWarner and assess the damage to FordÂ’s tooling. “Initial assessments indicate that the Ford tooling was not materially damaged in this incident,” Ford said in the filing. “We do not have sufficient information to estimate when the facility will be back on-line or whether or the extent to which this incident will impact our plans to resume production of four-wheel drive and all-wheel drive vehicles.” A Fiat Chrysler spokeswoman also told the Freep the company was working with BorgWarner on recovery plans. A Toyota spokesman told Autoblog that "we are collaborating with BorgWarner to help restore production for transfer cases for Tundra assembly. We are confident that theyÂ’ll fully recover over time." Like other automakers, Ford shut down production at its U.S. plants last month as a precaution against the coronavirus pandemic. But Ford hasnÂ’t yet said when it plans to reopen its factories. FCA is targeting May 4 to resume production. Models like the F-150 and Lincoln Navigator are major sources of profit for Ford, which estimated it lost $2 billion in the first quarter.