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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.

Ralph Gilles named Fiat Chrysler head of design

The amalgamation of two major automakers like Fiat and Chrysler inevitably means that there'll be some redundancy. There can't be two design chiefs for the entire group, for example, so the Italian-American automaker has named just one to oversee all design for its various divisions – and that one individual is Ralph Gilles. A Chrysler group veteran, Gilles has been at Auburn Hills since 1992, and has held a number of key positions along the way. He has until now served as senior vice president in charge of what's now known as the FCA North American Design Office – a position he assumed in June 2009 when it was still just the Chrysler design office – and has previously run the Dodge and SRT brands and headed up the company's racing activities. In assuming his new role as the group's Head of Design, Gilles will also step up to the FCA Group Executive Council. Meanwhile Lorenzo Ramaciotti, who joined Fiat as head of design in 2007 after serving the same function at Pininfarina, is now set to retire. Along with the Gilles appointment and Ramaciotti retirement, FCA has named Mauro Fenzi as group COO Systems and head of Comau, Fiat's robotic machinery division. FCA Announces Executive Changes - Appoints Gilles as Chief Designer - Names Fenzi COO Systems and CEO of Comau April 1, 2015 , London - Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MI: FCA) today announced that Ralph Gilles was named Head of Design and member of the FCA Group Executive Council (GEC). He currently leads the FCA North American Design Office as Senior Vice President, a position he was named to in June 2009. The GEC is the highest management-level decision making body within the FCA organization and is led by the FCA Chief Executive Officer (CEO). Gilles succeeds Lorenzo Ramaciotti, who is retiring after several years of dedicated service with the Company. Ramaciotti will continue to lend his expertise to the group serving as a Special Advisor to the CEO. "We extend our sincere appreciation to Lorenzo for his unwavering dedication, service, leadership and many contributions to the organization," said Sergio Marchionne, Chief Executive Officer, Fiat Chrysler Automobiles N.V. Gilles previously served as CEO – Motorsports; President and CEO – SRT Brand and CEO – Dodge Brand for FCA US in addition to his leadership role in Design. He joined the Company in 1992.

Dodge to resurrect Scat Pack?

Before social media ever existed, if automotive enthusiasts wanted to be noticed or recognize other fans, they joined a car club. For Dodge muscle car lovers from 1968 through 1971, that group was known as the Scat Pack. Just like the Charger, Challenger and Dart nameplates, it looks like the Scat Pack could be getting a resurrection by Chrysler.
Automotive News is reporting that Chrysler recently renewed its trademark on the Scat Pack name, and while this is in no way a guarantee that the name will return, AN talked to Tim Kuniskis, Dodge President and CEO, who stoked the fire a little more. In the article, Kuniskis said that the name is "a very important part of our history" and added that "we like the whole idea of having a Scat Pack of cars." Scat Pack models were identified by their bumblebee stripes and helmet-wearing bumblebee logo, and the idea of a modern Scat Pack doesn't seem all that outlandish in light of recent vehicles like the Charger SRT Super Bee and the Ram 1500 Rumble Bee Concept.
What do you think, is this a cool idea, or is it just an unwelcome bit of nostalgia? Have you say in Comments.