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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.

Chrysler to accelerate production of 2013 Ram and V6 engines

Chrysler is adding a third shift at its Warren Truck plant to meet demand for the new 2013 Ram pickup. And with tight supplies of its Pentastar V6, the company is also boosting output at its Mack Engine plant.
The expansions will add 1,250 jobs and are part of a $238 million investment by Chrysler in the Detroit area. Warren's third shift will begin work sometime in the spring, a Chrysler rep told Automotive News. Mack's increased Pentastar production a could include both 3.6 and 3.2-liter engines.
The company says it also plans to invest $40 million in its Trenton Engine plant to allow for production of a 3.2-liter V6 as well as the Tigershark inline-four for the upcoming Jeep Liberty replacement.

Chrysler withdraws from UK market

Ford factors big in the British market, as does GM's Vauxhall brand. But one automaker that will be missing from the UK from here on out will be Chrysler, as the latest reports coming in from the British Isles indicate that the American brand is closing up shop. For the past few years, Chrysler has been selling a combination of its own models as well as rebadged Lancias to British customers, but has been having a tough time making a go of it. After just a few short years of lackluster sales, Chrysler UK ceased selling the Delta, and according to Auto Express, is now withdrawing the 300C and Grand Voyager as well. That leaves just the Ypsilon, which will reportedly continue on an on-demand basis if customers ask for it, but even that will end by 2017. The withdrawal of the Chrysler brand from the British market mirrors that of Lancia, under whose name the same models are sold in continental Europe but which is now being confined strictly to Italy, where it will similarly continue to sell the Ypsilon. Of course that doesn't mean that FCA is withdrawing from the British market altogether. The Fiat, Abarth, Alfa Romeo and Jeep brands will continue being offered in the UK, as will Maserati and Ferrari. Just don't expect to see many wing-badged Chryslers on the high street anymore – not that you would have until now. Last year the Chrysler brand reportedly sold fewer than 2,000 units in the UK, compared to the 10,000+ examples of just the Fiat 500 it moves there every month. Related Video: Featured Gallery 2012 Chrysler Ypsilon News Source: Auto ExpressImage Credit: Chrysler Chrysler Lancia chrysler ypsilon