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China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.

Ram drops second of five 1500 Built to Serve Editions

In November, 2019, Ram launched a year-long campaign of releasing five special-edition 1500s (two colors each) to honor the five branches of the United States armed forces. Ram first showed off a 1500 in Gator green, and the most recent examples are seen in Patriot Blue and Ceramic Gray. Each model has several special-edition features, such as a plethora of American flags, and each color is limited to 500-1,000 examples. Ram's Built to Serve model program launched last year around Veteran's Day and continues this week with Flag Day, June 14, 2020, as the peg. Ram doesn't specify which color set goes with which military branch, but it's fairly easy to connect the dots. The first launch, which included Gator (1,000 units) and Diamond Black (1,000 units) is likely a nod to the army. This launch, which includes Patriot Blue (1,000 units) and Ceramic Gray (1,000 units), is almost certainly a nod to the navy.  The next three sets will release in the future. Anvil (1,000 units) and Billet Silver (1,000 units) might be for the U.S. Air Force, while Tank (1,000 units) and Flame Red (1,000 units) could honor the Marines. The most limited release will feature Spitfire (500 units) and Bright White (500 units) paint schemes, and likely links to the coast guard. The exterior of every Built to Serve truck wears an American flag and "Built to Serve" decal on each rear quarter panel. They also have 20-inch Technical Gray aluminum wheels, body-color wheel arches, a black grille, black grille surround, black bumpers, black-bezel lighting, black badging, black side steps, and black dual four-inch exhaust tips.  Available on all body styles and powertrains, the Built to Serve Package is a $2,795 option. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The interior of each Built to Serve 1500 has been dressed to fit each branch, as well. The first round had Light Frost contrast stitching, this round features Light Ambassador Blue stitching, the next will feature Light Diesel Gray, then Core Green, then Orange. Built to Serve embroidered Velcro panels are found on each front seat, and buyers can add their own patches on a separate Velcro panel on the inside shoulder of the front seats. The back of each front seat has Pouch Attachment Ladder System/Modular Lightweight Load-bearing Equipment (PALS/MOLLE) webbing.

Stellantis wants to trim 3,500 hourly U.S. jobs, UAW says

WASHINGTON — Chrysler-parent Stellantis NV wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday. The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page. Stellantis spokeswoman Jodi Tinson declined to comment. A person briefed on the matter said the figure might be lower than the figure cited in the UAW letter. In late February, Stellantis indefinitely halted operations at an assembly plant in Illinois, citing rising costs of electric vehicle production. The action impacted about 1,350 workers at the Belvidere, Illinois, plant that built the Jeep Cherokee SUV and resulted in indefinite layoffs. The automaker has warned it may not resume operations as it considers other options. The UAW letter said openings created by workers leaving would be filled by workers on indefinite layoff. Stellantis said in February that about 40,000 U.S. hourly workers were eligible for profit sharing. Last week, UAW President Shawn Fain said Stellantis' decision to idle the Illinois plant was "a flat-out violation" of the union's contract with the UAW and is unacceptable. The UAW will enter talks with the Detroit Three before labor contracts expire in mid-September. Earlier this month, General Motors said about 5,000 salaried workers accepted buyouts to leave the automaker. GM CEO Mary Barra said February job cuts of a few hundred jobs and the 5,000 buyouts "provided approximately $1 billion towards" a $2 billion cost cutting target. Ford Motor Co recently announced significant job cuts in Spain, Germany and other parts of Europe and in August said it would cut a total of 3,000 salaried and contract jobs, mostly in North America and India. Hirings/Firings/Layoffs UAW/Unions Chrysler Dodge Fiat Jeep Maserati RAM Stellantis