2024 Ram Promaster Tradesman 1500 on 2040-cars

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Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

Ram boss says not to expect midsize pickup in America

Remember that mysterious midsize four-door pickup FCA was spotted testing recently? It may be sold as a Fiat in markets overseas, but don't expect it to join the Ram lineup in North America. At least not according to the latest word from the truck brand's new boss. Speaking with Automotive News at the New York Auto Show, Ram CEO Bob Hegbloom outlined four criteria for a successful midsize pickup, particularly in the North American marketplace: they have less capability than a fullsize truck, but return with a more compact form, lower price and considerably higher fuel economy. "I've been able to develop a strategy to come up with three of the four," said Hegbloom, but "I haven't seen anyone who can deliver on all four." Smaller and less capable are easy, but getting both the price and the fuel consumption down at the same time is where it gets tricky. As it is, a Ram 1500 with the diesel engine and rear-wheel drive delivers 29 miles per gallon on the highway, which is already more than the 27-mpg rating on the midsize Chevy Colorado and GMC Canyon. But Hegbloom figures that in order to justify a midsize pickup, American buyers would expect at least 35 mpg on the highway, and in order to do so, FCA would have to employ some trick tech, which would in turn raise the price beyond an attractive level. The last time Chrysler offered a midsize truck in America was with the Dakota that was discontinued in 2011. Ford similarly ceased offering the Ranger in North America in 2012, leaving the new Colorado and Canyon to take on the Toyota Tacoma and Nissan Frontier in the compact/midsize pickup market in the US. With the prospect of a Ram version apparently off the table, then, Fiat's midsize four-door pickup is likely take on the likes of the Volkswagen Amarok, Mitsubishi Triton and Toyota Hilux in markets like Europe and South America. But like those trucks, it will likely never see the inside of an American showroom.

Genesis, Hyundai, Ram win North American Car, Utility, Truck of the Year at NAIAS

DETROIT — The Hyundai Genesis G70, Hyundai Kona/Kona Electric and the Ram pickup have received North American car, sport utility and truck of the year awards. The awards were announced Monday at the North American International Auto Show in Detroit. This year's car finalists also included the Honda Insight and Volvo S60/V60. Truck finalists included the Chevrolet Silverado 1500, GMC Sierra 1500. SUV finalists also included the Acura RDX and the Jaguar I-Pace. Last year's winners were the Honda Accord, Lincoln Navigator and the Volvo XC60. About 55 automotive journalists serve as judges. Eligible vehicles must be new or substantially changed. Organizers accept no advertising, though automakers try to capitalize on the marketing value of the awards, which are now in their 25th year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.