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Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.

Ram 1500 Motor Trend's first back-to-back Truck Of The Year

For the first time ever, Motor Trend has named a back-to-back winner of its Truck of the Year competition, handing the crown to last year's winner, the Ram 1500. Ram's entry to the pickup battle bested a range of new or heavily improved models, including its big brothers, the Ram Heavy Duty and Ram ProMaster van.
Other contenders included the twins from General Motors, the Chevrolet Silverado and GMC Sierra, the Toyota Tundra, the Ford Transit Connect, the Nissan NV200 and the Mercedes-Benz Sprinter. Just how did a truck that technically hit the market in 2012 best a range of vehicles from 2013? With new technology.
MT wasn't testing the same Ram it tested in last year's competition - it was driving the new EcoDiesel V6, complete with an eight-speed automatic transmission. When ran through the battery of testing, the torquey diesel Ram proved to be the victor for its ample torque and excellent fuel economy, while the team at Motor Trend also highlighted its air suspension and overall sense of style and luxury.

2013 Ram 1500 earns Truck of Texas honors

Auto writers around the country tend to specialize in different vehicles based on the trends of our respective home markets. The New England Motor Press Association, for example, presents an award every year for the best winter vehicle. With that in mind, it is fitting that the Texas Auto Writers Association doles out an annual truck award. This year, the TAWA "Truck of Texas" is the 2013 Ram 1500.
In a announcement from TAWA, the new Ram took top honors based in no small part on, "a new 3.6-liter V6 that boasts 42 percent more power, improved fuel economy, infotainment upgrades and available eight-speed automatic transmission and air suspension." And according to Ram CEO Fred Diaz, "Automotive reporters have reacted extremely favorably to the new 2013 Ram 1500, and our research tells us that resonates with truck buyers." The Ram 1500 unseated the previous Truck of Texas, the 2012 Ford F-150.
The Texas Auto Writers Association Truck Rodeo was also an occasion for journalists to award an SUV of Texas, and thankfully, the distinction is made between SUV and CUV. The Jeep Grand Cherokee took top honors in the SUV department, with TAWA pointing to models like the off-road-ready Trailhawk and feature-laden Overland Summit. It is the third consecutive year that the Grand Cherokee has achieved this accolade. The award for top crossover went to the 2013 Buick Enclave, which is in its first year of a new design. To read more on the Truck of Texas award and all the finalists, check out the press release below.