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Autoblog sell-it-yourself highlight: 2004 Chrysler Crossfire

Chrysler's Crossfire was the most fortuitous product of the Chrysler and Daimler-Benz merger when it launched, but also the most tormented. Clothed in Chrysler sheetmetal, the Crossfire sat atop a Mercedes platform and was propelled by an M-B drivetrain. The upscale vibe was obvious, while its outlier status on a Chrysler showroom dominated by minivans, was preordained. As Autoblog reported in May 2006, "production of the Crossfire [fell] from a peak of 35,700 in 2003 to just 12,500 last year. Introduced in 2003, the Crossfire managed about 28,000 sales in 2004, but less than 10,000 in 2005. Chrysler was so desperate to move Crossfires in late 2005 that it even engaged in a marketing stunt when it attempted to sell units on Overstock.com." Most specialized two-seaters (or 2+2 coupes) invariably run into marketing reality; once the novelty wears off, there is little sustained support for a small, impractical vehicle in modern America. Conversely, if looking for a recreational vehicle with a possible upside as an investment, you'll be hard pressed to find a more accessible example than the Crossfire. Our for-sale example, located in Randleman, NC, looks to be well maintained and has the preferred manual transmission. There are few credible guides for evaluating the price, but the $3,750 ask falls in line with a decent Miata of the same vintage and mileage. A buyer should remember that the Mercedes-sourced drivetrain of this era can be a financial swamp, but with a clean Carfax and pre-purchase inspection, Chrysler's Crossfire can provide real driving enjoyment. Related Video: Chrysler Car Buying Used Car Buying Ownership Coupe Luxury Performance chrysler crossfire

Peugeot maker PSA posts record profits ahead of FCA merger

PARIS — Peugeot maker PSA Group said its profitability reached a record high in 2019 but the French carmaker forecast falling industry sales in Europe this year as it pursues its merger with Fiat Chrysler, which is strong in North America. PSA has trimmed costs in areas such as the procurement of components as it has integrated its acquisition of Opel and Vauxhall, boosting operating margins to 8.5% last year. The group, which also produces cars under the Citroen and DS brands, offset a slump in vehicle sales by selling pricier SUV models, with launches including the Citroen C5 Aircross helping to lift revenues by a higher-than-expected 1% to $81.2 billion (74.7 billion euros). That helped it stand out in a car market where some rivals including France's Renault have struggled with sliding revenues and profits, amid a broader downturn in demand. PSA's group net profit increased 13.2% to a record 3.2 billion euros, and the company increased its dividend against 2019 results to 1.23 euros per share, up 58% from 2018 levels. The carmaker was "once again very solid", analysts at brokerage Oddo-BHF said in a note, adding the results confirmed the company's "best-in-class status." However PSA forecast a 3% contraction in Europe's car market this year, by far its biggest market. The tie-up with Fiat Chrysler will help it gain exposure to that group's strong presence in North America with brands like Jeep. The two companies struck a deal in December to create the world's No.4 carmaker, to better cope with market turmoil and the cost of making less-polluting vehicles. Fiat also posted more upbeat results than most rivals this year. CORONAVIRUS WEIGHS PSA boss Carlos Tavares told a news conference that the two groups were both in good shape and well placed to face market challenges together. He said he did not expect any major regulatory hurdles to the merger, adding it had so far submitted 14 approval requests to competition authorities out of the 24 it needs. There are no immediate plans to change anything in the large portfolio of brands within the combined group, he added. However the companies still face problems this year, including the coronavirus outbreak which has paralyzed production in China and hits carmakers' supply chain. PSA said the coronavirus impact was still difficult to assess. It factories in Wuhan, at the epicenter of the outbreak, are due to reopen in the second week of March.

Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng