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FCA to pay buyers $1,700 to swap out of scandal-mired VWs

FCA is trying to gain some sales from arch-rival VW in the competitive European market by offering potential buyers in Italy up to $1,700 to swap into an FCA group car. While the promotion isn't specifically targeted at TDI owners affected by the emissions scandal, it is clearly intended to turn dissatisfaction with VW's defeat device cheat into additional sales, Bloomberg reports. The 500-1,500 euro incentive (roughly $560-1,700, depending on vehicle) stacks on top of any other rebates or deals applicable, and applies if a buyer brings in any of Volkswagen Group's cars – including Audi, Skoda, and SEAT, among (many) others. As Bloomberg notes, it's normal for automakers to offer "conquest" deals – giving a buyer cash for trading in a competitor's vehicle. Those deals aren't usually limited to one company's products, however; FCA's program looks specifically to take advantage of VW's legal and public relations nightmare. FCA isn't the only automaker trying this trick in Italy. Automotive News Europe also reported that Ford is offering approximately $840 in incentives across its entire range to owners of VW vehicles seeking to trade in for a Ford. No word of yet as to whether these incentives will spread beyond Italy or to other automakers.Related Video:

Proposed deal averts strike between FCA and UAW

With the deadline rapidly approaching for a strike, FCA US and the United Auto Workers were able to hammer out a potential agreement late last night to avoid picket lines, at least for now. While the UAW said in a statement that it "secured significant gains," the actual contents of the deal haven't been published yet. Before going public, the offer still needs the consent of the UAW National Chrysler Committee, and that body has a meeting on 11:00 AM Eastern on Friday, October 9, to make a decision. If the Chrysler committee signs off on the deal, it would then go to the union's 40,000 FCA US workers for a vote, according to The Detroit News. "We have made real gains and I look forward to a full discussion of the terms with our membership," President Dennis Williams said in the UAW's statement. FCA US isn't providing any answers about the proposed contract either. In a release about the negotiations, the automaker said: "FCA US confirms that it has reached a new tentative agreement with the UAW. Because the agreement is subject to UAW member ratification, the Company cannot discuss the specifics of the agreement pending a vote by UAW members." The original tentative contract with FCA US promised raises and the creation of a healthcare co-op. However, 65 percent of union members rejected the deal, The Detroit News reports. Workers didn't like that the offer kept a two-tier wage system between veterans and more recent employees. The details of the health plan also weren't explained well, and there wasn't much info on possible production changes. UAW-FCA NATIONAL BARGAINING COMMITTEE VOTES ON PROPOSED TENTATIVE AGREEMENT Featured / News / October 8, 2015 UAW National Chrysler Council Leaders to Convene for Vote on Friday, Oct. 9 — Terms to be announced following Friday vote Detroit, Mich. – After a lengthy bargaining process, the UAW FCA National Bargaining Committee has secured significant gains in a proposed Tentative Agreement with FCA US announced today. The bargaining committee unanimously voted to send the proposed Tentative Agreement to local union leaders who make up the union's UAW National Chrysler Council. The UAW Chrysler Council will meet in Detroit at 11 am on Friday to discuss and vote on the agreement. "We heard from our members, and went back to FCA to strengthen their contract," said UAW President Dennis Williams.

4 ways FCA-PSA merger could be a plus

DETROIT — In a merger deal announced overnight, Fiat Chrysler stands to gain electric vehicle technology while PSA Peugeot Citroen could benefit from a badly needed dealership network to reach its goal of selling vehicles in the U.S. The merger would create the world's fourth-largest automaker with a combined market value of around $50 billion. Neither company would comment. Experts say the two automakers will be able to share car, SUV and commercial vehicle designs, helping each other fill weaknesses and share costs that will make them a strong global player. "We view the combination of these two companies as reasonable given global competition, high capital intensity, and industry disruption from electrified powertrain as well as autonomous technologies," Morningstar analyst Richard Hilgert wrote in a note to investors. Here are four areas that could be crucial to the two automakers' success: Technology For years, Fiat Chrysler has lagged its rivals in electric vehicle technology, with its former CEO once trying to discourage people from buying its only fully electric car in the United States, the Fiat 500E, because he lost money on each sale. The company has made progress on gas-electric hybrids and may have plans for more fully electric vehicles, but PSA has valuable technology that FCA can use, said Navigant Research analyst Sam Abuelsamid. Peugeot was relatively late to the electric vehicle game but is now working fast to catch up, notably with fellow French rival Renault. CEO Carlos Tavares has made a point of stressing the company's need to adapt to changing technology at car shows and earnings calls. Last year he announced plans to offer 40 electric models across its lineup by 2025. "Electrification hasn't been a huge part of their play up until now," Abuelsamid said. "Between the two of them, I think they could generate some scale for whatever they're doing, sharing component costs, development costs across electrical platforms," he said. More electric vehicles also would help FCA meet pollution and fuel economy regulations in Europe. As far as autonomous vehicles, neither company is among the leaders, Abuelsamid said. But that's a technology that's years into the future, giving them time to share the huge expenses and catch up together. FCA also has alliances with other companies such as Google spinoff Waymo that could bring autonomous vehicle technology to the market when ready, Abuelsamid said.