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Merged PSA and Fiat would retain all brands, Tavares says

By Elisa Anzolin and Gilles Guillaume PARIS/TURIN, Italy (Reuters) - Peugeot maker PSA Group and Fiat Chrysler would retain all of their car brands if their planned $50 billion merger goes ahead, the would-be chief executive of the combined group said on Friday. PSA CEO Carlos Tavares, seen as the architect of PSA's turnaround and in line to take the operational helm in the Fiat tie-up, said in a TV interview that the companies complemented each other well geographically and in terms of technology and brands. FCA derives 66% of its revenue from North America compared with only 5.7% for PSA, Refinitiv Eikon data shows. Europe remains the main revenue driver for PSA. "There's no doubt it's a very good deal for both parties. It's a win-win," Tavares told France's BFM Business, in his first interview since the French and Italian companies announced plans to create the world's fourth-largest auto maker last week. Fiat Chrysler (FCA) Chairman John Elkann, who would chair the combined group, said on Friday at an event in Turin that the 50-50 share merger would help the Italian carmaker "seize great opportunities." The deal, which would help the firms pool resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as counter a broader downturn in car markers, is still at an early stage. PSA and Fiat have said they aim to reach a binding outline in the coming weeks, but still face questions over potential job losses, as well as scrutiny over whether the transaction favors one party more than the other. Tavares said the brands that would come under the combined group's umbrella — PSA's five passenger car nameplates include Citroen, Vauxhall and Opel, while FCA has nine, including Fiat, Alfa Romeo, Maserati, Chrysler, Dodge and Jeep — were all likely to survive. "As of today, I don't see any need to scrap any of the brands if the deal came to pass. They all have their history and their strengths," Tavares said. Few carmakers have as large a portfolio, with German rival Volkswagen Group counting 10 passenger brands, if newer Chinese ones such as electric vehicle label Sihao are included. The merger will also require approval from anti-trust authorities. Tavares said he did not expect the companies to have to make major concessions to meet competition rules, but added they were ready to do so, without giving details.

Weekly Recap: Ferrari pens a provocative F1 car of the future

Scuderia Ferrari unveiled its vision of the future for Formula One this week, revealing sketches of a sleek, muscular racecar. Called the Concept F1, Ferrari is showcasing the design to start a conversation about the next generation of Formula One cars and spur interest in the sport, which has been maligned for its unattractive racecars in recent years. The Concept F1 was penned by the company's in-house studio, Centro Stile Ferrari, with input from its aerodynamics department. Though the sketches look futuristic, the company says the design could be executed without changing F1 regulations. From its beginning, Ferrari's racecars have had both form and function, winning on the track and turning heads with everything from the 250 Testa Rossa, 330 P3, Michael Schumacher's single-seaters from the early 2000s and many others. That lineage led the Scuderia's leaders to survey the paddock, wring their hands and come up with the Concept F1. As Ferrari said on its website: "Our challenge was to create something that was – to put it short – better looking." It's a philosophy that was implemented for this season's car, the SF15-T. While not groundbreaking in appearance, Ferrari cleaned up the design, particularly up front, and the racecar now has a more attractive nose that delivers better aerodynamics. It's more of the same in back, where a tighter design creates more downforce. "This year's car is certainly an awful lot better looking than last year's car," Ferrari technical director James Allison said in a video on the Scuderia's website. The updates come as Ferrari, and all F1 teams, get a better handle on the extensive 2014 rule changes that brought back turbocharged engines and altered the aerodynamic regulations for the series. Less dramatic changes also are going into effect this year. Ferrari, which is coming off a disappointing fourth-place finish in the World Championship, is obviously looking to the future. Appearances have always mattered for the red cars. We'll see if they bring the Scuderia success this season and beyond. Other News and Notes Next-generation Chrysler Town & Country spied Fiat Chrysler Automobiles is hard at work on the next-gen Town & Country minivan, and our spy shooters have captured heavily covered prototypes during testing on the road. We can't tell anything about the exterior design, though we see glimpses of an instrument panel (which looks vaguely Dodge Charger-esque) and infotainment screen inside.

Chrysler says its 8-speed transmissions will save 700 million gallons

Chrysler Group's TorqueFlite eight-speed transmission could be earning some serious green bragging rights if the company's projections are correct. The recently widely proliferated automatic gearbox, which is now in more than a million vehicles around the world, is poised to save drivers an estimated 700+ million gallons of fuel over the vehicles' lifetimes (an expected cost savings of $2.5 billion). In addition, Chrysler expects a reduction in CO2 emissions by more than six million metric tons. According to Chrysler, and depending on the vehicle, the TorqueFlite can improve fuel economy. The TorqueFlite autobox features particularly close ratios from fifth to eighth gear (see the press release below for the specific numbers), and uses low-viscosity fluid that doesn't need to be replaced. Transmission software adapts to the driving situation to optimize efficiency based on driver behavior, temperature, grade, stability control, and longitudinal and lateral acceleration. The TorqueFlite is capable of handling a variety of duties. As evidenced by the wide range of vehicles Chrysler Group has seen fit to equip with the eight-speed transmission, the TorqueFlite is capable of handling a variety of duties. Since its 2012 introduction, the TorqueFlite has gone from performing cog-swapping duties in Dodge Charger and Chrysler 300 models equipped with the 3.6-liter Pentastar V6 to changing gears in vehicles such as the Pentastar- and Hemi-powered Dodge Durango, Jeep Grand Cherokee and even the Ram 1500 EcoDiesel. For the 2015 model year, the eight-speed is finding its way into even more vehicles with the addition of a third version. In addition to the American-made TorqueFlite 845RE and 8HP70, the new 8HP90 will be manufactured in Saarbrucken, Germany. The 8HP90 is designed for higher torque loads, making it ideal for high-performance vehicles like the 2015 Dodge Challenger SRT Hellcat. The already-in-use 8HP70 will expand its duties to be used in 2015 Hemi models such as the Dodge Charger, Challenger, and Challenger SRT8. You can see the list of those benchmarks in Chrysler's press release below.