2005 Chrysler Crossfire Roadster Convertible 3.2l on 2040-cars

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Fiat Chrysler's Marchionne is done talking about alliances

AMSTERDAM (Reuters) - Fiat Chrysler Chief Executive Sergio Marchionne rowed back on his search for a merger on Friday, saying the car maker was not in a position to seek deals for now and would focus instead on following its business plan. Marchionne had repeatedly called for mergers in the car industry and a tie-up has long been seen as the ultimate aim of his relaunch of Fiat Chrysler, which he is due to leave in early 2019 after 15 years at the helm. He sought a merger with General Motors two years ago but was rebuffed. Only last month he said Volkswagen - the market leader in Europe - may agree to discuss a tie-up with FCA in reaction to rival PSA Group's acquisition of Opel. Marchionne told the annual general meeting in Amsterdam he still saw the need for car companies to merge to better shoulder the large investments needed, but said Fiat Chrysler was not talking to Volkswagen. "On the Volkswagen issue, on the question if there are ongoing discussions, the answer is no," he said. He added, without elaborating, that Fiat Chrysler was not at a stage where it could discuss any alliances. "The primary focus is the execution of the plan," he said. FCA has pledged to swing to a 5 billion euro net cash position by 2018, from net debt of 4.6 billion euros at the end of 2016 - an achievement that Marchionne has said would put it in a better position to strike a deal in the future. Volkswagen, which is still reeling from an emissions scandal that hurt its profits, initially spurned FCA's approach. However, CEO Matthias Mueller said last month the group had become more open on the issue of tie-ups and invited Marchionne to speak to him directly rather than with the press. Fiat Chrysler Chairman John Elkann underlined the message that finding a merger partner was not a priority. "I'm not interested in a big merger deal," he said. "Historically, deals are struck at times of difficulty ... we don't want to be in trouble." Elkann is the scion of Fiat's founder and top shareholder the Agnelli family. He has said in the past he was prepared to have the Agnelli's stake severely diluted in exchange for a minority holding in a larger auto group. "I believe the priority for FCA is to press ahead with this ambitious (business) plan despite the difficult environment," he said. FCA pledged in January to nearly halve net debt this year, as part of the 2018 plan. Doubts remain about its exposure to a peaking U.S.

Junkyard Gem: 2002 Chrysler PT Cruiser Dream Cruiser Series 1

It has become fashionable to hate the PT Cruiser these days, but Chrysler really hit a home run with the idea of a retro-looking, Neon-based vehicle that — legally speaking — qualified as a light truck according to American regulations and thus didn't need to comply with the costly fuel-economy and crash-safety rules applied to cars. PT Cruisers sold like crazy for the first half of the 2000s and even developed something of a cult followingÂ… but familiarity bred contempt once every parking lot and traffic jam in the country filled up with cute-looking retrowagons. I didn't start seeing many of these cars trucks in junkyards until about a decade ago, at which point the Chrysler section of every yard instantly became about 50% PT Cruisers. Most of the time, I ignore them as car-graveyard background noise, but the rare turbocharged Cruisers or those with manual transmissions can catch my eye, as well as those with weird body kits. The more interesting special-edition PT Cruisers also seem worth documenting as historically significant Junkyard Gems, and here's one of the rarest of all: a Dream Cruiser Series 1, found last summer in Colorado. Inspired by Detroit's Woodward Dream Cruise, the '02 Dream Cruiser Series 1 was the first of many special-edition PT Cruisers (if you're going to collect them all, you'll need to find a Pacific Coast Highway Edition, a Sunset Boulevard Edition, a Woodie Edition, and all the subsequent Dream Cruiser Series cars). All the Series 1 Dream Cruisers came in metallic Inca Gold paint, allegedly inspired by the paint on the 1998 Pronto Cruiser concept car. Chrysler planned to build 7,500 of these cars trucks, but I cannot verify actual production numbers. This is the first I've seen in a self-service wrecking yard, at any rate. The Dream Cruiser Series 1 got leather seats and interesting gold-trimmed interior surfaces. This one looks a bit rough inside, but we can assume it was glorious when new. Resale value on the PT Cruiser has cratered in recent years, so even a runner has little chance of evading the cold steel jaws of the crusher, once it starts to rust. Because every performance upgrade you can do with a Neon can also be done to a PT Cruiser, it would be possible to swap all the relevant mechanical bits from an SRT-4 Neon into a snazzy-looking Dream Cruiser and have the quickest PT Cruiser in your timezone. You should do this. This content is hosted by a third party. To view it, please update your privacy preferences.

Why a Renault-FCA merger could be good news for Nissan, Mitsubishi

TOKYO — Nissan's advanced technologies including platforms and electric powertrains could give it leverage in a merger involving Renault and Fiat Chrysler, thanks to a royalty system it has with the former, two people with knowledge of the matter said. A merged Renault-Fiat Chrysler could face an extra hurdle each time it uses technology developed by Nissan or Mitsubishi Motors, while the two Japanese automakers stand to gain a client in Fiat Chrysler (FCA), one of the people said. Both sources declined to be identified because of the sensitivity of the matter. Nissan's technology, particularly in electrification and emissions reduction, could give it some sway in the $35 billion potential tie-up between Renault and FCA, even as its stake in the newly formed company would be diluted. Currently Renault SA pays less for technology developed by Nissan than the Japanese automaker pays for French technology, a third person said. This has long been a sticking point for Nissan, and an area where Nissan could seek more favorable terms. "Whenever Nissan transfers platform, powertrain or other technology to Renault, there is a margin or royalty which Renault has to pay for use of that tech," one of the people said. "In that sense, FCA, if everything went well, would become another 'client' of ours and that's good. More business for us." A Nissan spokesman declined to comment on its royalty system. The potential Renault-FCA deal has complicated the Japanese automaker's already uneasy alliance with Renault. A further deal with Fiat Chrysler looks likely at least in the near term to weaken Nissan's influence in the 20-year-old partnership. Renault owns a 43.4% stake in Nissan and is its top shareholder. Nissan holds a 15% non-voting stake in Renault and would see that diluted to 7.5% after the FCA deal, albeit with voting rights. The imbalance between the two has long rankled Nissan, which is by far the larger company. Alliance imbalance Renault had previously angled for a merger with Nissan but has been rebuffed by CEO Hiroto Saikawa. Securing benefits from the merger deal will be important for Saikawa, who is grappling with poor financial performance while he struggles to right the company after the ouster of former chairman Carlos Ghosn last year.