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Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

Mopar-modified Chrysler 200 reappears in Chicago

Chrysler made what was one of the biggest debuts of the 2014 North American International Auto Show last month when it debuted the heavily redesigned 200. While impressive on its own, the sleek sedan's Mopar counterpart, which was tucked away in a corner during the Detroit show, adds even more visual flair.
Based on the Chrysler 200S, the showcar had already benefitted from Lunar White Tricoat paint and meaty, 19-inch wheels (now in Satin Lite Bronze finish). White leather seats with bronze stitching accented the cabin treatment.
For Chicago, Chrysler added a Mopar body kit and new upper and lower grilles, both of which give the four-door a considerably more menacing look. The rear fascia is set off by a new bumper and a revised set of exhaust tips. The cabin is unchanged from the Detroit car.

Next Chrysler minivan spied inside and out

Chrysler isn't supposed to unveil the next-generation Town & Country until the 2016 Detroit Auto Show, but FCA is hard at work getting the minivan ready for launch. Our spies recently caught prototypes on the road and took copious photos of the interior and exterior, giving us an early idea what to expect from the future family-hauler. These shots make it pretty clear that FCA's engineers aren't done working on the next T&C yet, and all of the camouflage on the outside makes any styling changes very difficult to spot. However, the company is testing the future version with a current one, and the new design appears to have harder angles. One intriguing picture clearly shows the Dodge logo on the back of the minivan. The Dodge Grand Caravan is supposed to be killed off for 2016, though. We've also heard the next-generation minivan will get a plug-in hybrid variant, which was reportedly confirmed last week. The interior is slightly less concealed than the outside, but development is still ongoing in there, too. It's easy to spot the familiar infotainment screen from other FCA products, and there's just a peek at the T&C's instrument cluster, including the design for the tachometer. A rotary dial gearshift also appears to be in the center console, similar to the Chrysler 200. Even at this early stage, it appears that FCA is trying to take the next T&C a little more upmarket compared to the current iteration. The move fits well with earlier rumors of the price increasing for the future model. Related Video: