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Forget the stupid millennial pitch, the Chrysler Portal Concept is full of good ideas

Chrysler's statements on the Portal Concept are heavy on the millennial, as we previously mentioned. And as such, the six-passenger people hauler shown at CES 2017 has all the elements of a concept for the m-word generation - connectivity, cameras, and plenty of items with a "modular" adjective on them. But put aside the tired idea that millennials are different from other car shoppers for a moment, because the Portal Concept boasts a bunch of great design ideas that anyone would appreciate. The thing is that millennials are the widest chunk of population in the United States. As such, they're hard to define. It seems like someone at Chrysler realizes this, as the press release for the Portal states: "While millennials are a broad group of consumers at varying life stages, the Chrysler Portal concept is designed and engineered with all life stages and lifestyles in mind, including active/adventure, single, married/partnered, those with newborns and older children." In other words, this is a vehicle designed for all kinds of people that suits all kinds of needs. Spoiler alert: The best package for flexible hauling of people and cargo is a minivan. And that's what the Portal Concept is, albeit slightly smaller than the current Pacifica. Chrysler Portal Concept View 20 Photos It's an obvious angle, as Chrysler popularized the modern minivan. But with current vans ballooning in size, there's room for the same virtues in a smaller footprint. If it takes 360-degree cameras and a customizable light ring around the doors to convince people that a flat floor and movable seats are cool, so be it. It's the practical aspects of the Portal that we like best, not the throwaway concessions to connectivity and autonomy. The best, most practical feature in the Portal is its seating arrangement. The seats ride on two parallel tracks, and each folds skinny with the seat pan popping vertical, or low with the seatback down. All (save the driver's bucket) slide back for room in front, or vice versa for space in the rear. Integrated seatbelts further help the seating flexibility. Even in a more realistic production form this is a clever innovation, almost as good as the original Stow 'N' Go. The same goes for the panoramic, high-mount screen that shows the dashboard and a host of other informative bits of data.

Marchionne completed Fiat-Chrysler deal from a Florida beach

Sergio Marchionne is the CEO of Fiat, which as you may have heard, has finally worked up a deal to finish acquiring the Chrysler Group after months of bargaining with the United Auto Workers and its VEBA healthcare trust, which owned just over 40 percent of the American brand. Where was Marchionne when the deal was finally hammered out? Well, not tucked away in a frigid Detroit board room until the wee hours of the morning.
Nope, one of the largest deals in automotive history was reportedly hammered out on the beach - at the home of a banker, in the Florida resort town of Vero Beach. Marchionne traveled to the home of Alain Lebec, a senior managing director at Brock Capital LLC, one of the advisory companies for the VEBA fund, where both sides met to make final arrangements in the $4.35-billion exchange. The location of the final deal, though, is nearly as remarkable as the pace with which it came about.
According to anonymous sources pinned down by Automotive News Europe, before the meeting, the two sides were meeting in Detroit as recently as December 19, which is where Fiat made one of its final revised offers. Naturally, the VEBA made a counter offer, which led Marchionne to initiate the Vero Beach meeting.

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.