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Pickup prices rising at 2x industry average

We've said it before, but bears repeating: Pickup trucks are the financial engines of America's automakers. Good thing, then, that the segment is in rude health - in fact, Automotive News is suggesting that pickup truck sales are arguably healthier than they were pre-recession, even though the segment's volume is still significantly down from where it was before the bottom fell out of the US economy. That's because per-unit profits on full-size trucks are skyrocketing, outpacing the industry's average price increases by more than double since 2005. According to data from Edmunds, the average transaction price of a full-size pickup is now $39,915 - a heady increase over the $31,059 average price in 2005 - a gain of over 8 percent after inflation is factored in.
Just how important are trucks to automakers' bottom lines? Automotive News quotes a Morgan Stanley analyst as saying the Ford F-Series is responsible for 90 percent of the company's 2012 profits, and General Motors isn't far behind, with the Chevrolet Silverado and GMC Sierra twins chipping in about two-thirds of the automaker's earnings.
Automotive News points out that Detroit's automakers now have the money to invest in modernizing their full-size truck offerings, in part because they don't have the same overhead and legacy costs that pushed General Motors and Chrysler into bankruptcy. Certainly, the pickup segment has seen a lot of innovations as of late, including turbocharged V6s, coil-spring rear suspensions and active aero. Those improvements in important areas like fuel economy and ride comfort have given existing pickup buyers new reasons to upgrade. In addition, automakers are piling on the tech and luxury goodies, creating more and more high-content, high-profit models like the Ford F-150 King Ranch, Ram 1500 Laramie Longhorn and Chevrolet Silverado High Country (shown).

Massive barn find auction with classic Lamborghinis, Porsches, Jaguars happening in France

If it's the right make and model, a single classic car found in a barn can make headlines. This discovery was much bigger. Eighty cars bigger, and now they're going up for auction in France. Brought to our attention by Road & Track, this diverse collection of 81 classic cars from the 1950s, '60s, '70s, and '80s was originally found months ago. The cars were strewn about in the weeds, as seen in the weirdly calming and nicely filmed video seen below. It's not as shockingly impressive as the French barn find from a few years back, but the variety in the lot of rare vehicles is remarkable, nonetheless. Some of the most notable cars included in the auction are a highly coveted Lamborghini Miura P400, a Porsche 356 coupe, a Series 1 Jaguar E-Type coupe, and a Citroen 2CV. Other interesting vehicles include a Chrysler Imperial C14, an Autobianchi Bianchina 110FB, a C3 Corvette T-Top, a Ford Anglia, a Rolland Pilain B22, and a Stutz Speedway Six. The collection is nearly a dictionary of different auto makes: Renault, Alfa Romeo, Cadillac, Lancia, Simca, a Delage, Panhard, Lincoln, Packard, Oldmobile, a Hotchkiss, Graham Paige, Vauxhall, Opel, Peugeot, Trabant, Volkswagen, Audi, Buick, Fiat, Talbot, Mercedes-Benz, and a random Ferrari GTO body kit. There are also some random pieces and parts of cars, including some loose engines. Some of the cars can be secretly bid on right now, but the main auction will occur Sunday, January 20. Full pictures and details can be found here. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: intrencheres, Road and Track Chrysler Jaguar Lamborghini Porsche Auctions Automotive History Classics barn find

Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot