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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 teases four of 'nearly 20' SEMA Show concepts

Yesterday it was Chevrolet. Today, Mopar has dropped some SEMA knowledge, releasing a quartet of teaser images that give us some indication of what kind of cars, trucks, and crossovers Fiat, Chrysler, Dodge, Jeep, and Ram will be showing in Las Vegas. Like Chevy, Mopar's concepts utilize both production and concept accessories, although Fiat Chrysler has gone a bit more indepth on at least one of its concepts. Immediately, the most tantalizing teaser is the one shown above. Yes, that's the back of a Challenger, and aside from the bright orange accents on the gray body, you should take notice of the badge mounted on the spoiler – yes, that says "GT AWD." To be honest, such a vehicle wouldn't be a huge shock, as both the Challenger's LX platform-mates, the Dodge Charger and Chrysler 300, are offered with all-wheel-drive options. Still, adding such a vehicle to the production cycle would give Dodge a leg up on the rear-drive only Ford Mustang and Chevrolet Camaro. Aside from that concept, FCA has also released teasers of a Ram-based concept, a 300-based concept, and what we're guessing is a Fiat 500X. We can't wait to see what the actual Fiat concept has to do with kiteboarding. As for the 300 and Ram, there's not a lot of hints on what sort of styling details they'll contain. The Chrysler has additional LED accents and what we're guessing is matte blue paint, while the Ram is based on a Hemi-powered 1500 with Rebel styling cues. This is just a very tiny sample of Mopar's final SEMA roster, which include "hundreds" of parts. There should also be a total of 20 vehicles covering all four former Chrysler Group brands, as well as Fiat. Naturally, we'll have plenty to report on each vehicle once the SEMA show kicks off in the next couple weeks.

Fiat Chrysler, surprise, had to buy a lot of emissions credits

The world of carbon emissions uses some unusual units of measure. Take, for example, 8.2 million megagrams. Who needs to know how much that is? Someone at Fiat Chrysler Automobiles, that's who. FCA had to buy that many greenhouse-gas emissions credits from greener automakers, Reuters says, citing a report from the US Environmental Protection Agency (EPA). Because its vehicles' collective fuel economy continues to trail the industry average, FCA purchased the emissions credits at of the end of 2014 in order to meet US emissions regulations. About two-thirds of those credits were acquired from Toyota, while the rest were purchased from Tesla and Honda. Daimler and Ferrari, not surprisingly, were among the other automobile companies that had to acquire emissions credits in order to meet US greenhouse gas regulations. Because the price for these credits is set privately by the companies, the EPA didn't disclose how much FCA had to pay to stay on the green side. The reason for the millions FCA likely spent is because the company is making a slow progress building and selling cleaner cars. The company did increase average fuel efficiency by about one mile per gallon to almost 22 mpg for the 2015 model year, but it wasn't enough. Such a performance likely only put the automaker in a last-place tie with General Motors. The emissions credits purchased from Tesla are notable because that California-based maker of electric vehicles has long generated substantial revenue by selling various credits to its less-electrified counterparts. In 2013, Tesla sold more of California's ZEV credits than any other automaker, but Nissan took that title in 2014. While these are not the same as the EPA's GHG credits, they do offer another way to track which automakers are meeting the targets and which need help. Related Video: News Source: ReutersImage Credit: Flickr/Ian YVR Government/Legal Green Chrysler Fiat Fuel Efficiency mpg