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Fiat/PSA's dominance in small vans hangs up EU's merger approval

BRUSSELS — EU antitrust regulators are concerned about Fiat Chrysler and Peugeot / PSA's combined high market share in small vans and may require concessions to clear their $50 billion merger, people familiar with the matter said. The companies, which are seeking to create the world's fourth biggest carmaker, were told of the European Commission's concerns last week. If Fiat and PSA fail to dispel the European Commission's doubts in the next two days and subsequently decline to offer concessions by Wednesday, the deadline for doing so, the deal would face a four-month-long investigation. The EU competition enforcer, which has set a June 17 deadline for its preliminary review, declined to comment. Fiat was not immediately available for comment while PSA had no immediate comment. Hiving off overlapping businesses, usually a regulatory demand to ensure more competition, could prove tricky for the carmakers because of the technicalities. Fiat and PSA are looking to merge to help offset slowing demand and shoulder the cost of making cleaner vehicles to meet tougher emissions regulations. The deal puts under one roof the Italian carmaker's brands such as Fiat, Jeep, Dodge, Ram, Maserati and the French company's Peugeot, Opel and DS. Related Video: Government/Legal Chrysler Dodge Fiat Jeep Maserati RAM Citroen Opel Peugeot

Chrysler 300 could become an electric sedan for 2026

Australian outlet Drive says it got eyes on "insider information" that revealed Chrysler has an electric sedan in development. As has been practice for the Pentastar since long before Stellantis, this Chrysler four-door would be the platform sibling of an electric Dodge sedan, the Dodge version to arrive sometime in 2024, the Chrysler variant about two years later. Nothing in the documents identified the EV sedan as a replacement for the 300, but Drive lays out a trail of circumstantial evidence that points to this conclusion. The documents say the vehicles will run 800-volt electrical architectures, thought to mean they'll also get the most powerful versions of Stellantis' new electric motors making anywhere from 201 to 443 horsepower. And because of that, Drive expects these products to use the STLA Large platform, the platform an electric 300 would sit on. Chrysler's working up a range of new products as part of the numerous brand resets Stellantis committed to. In January, Chrysler CEO Christine Feuell told Automotive News the coming portfolio "will include a number of brand-new products that don't exist today, but also products that are still playing in segments that we're in already," calling out the fact that Chrysler only plays in the large sedan and minivan segments. Then she said, "Our intention is to redefine products for those segments, and they're certainly going to be a vast departure from what's in market today."  The automaker's first EV is expected to be the Airflow, teased during the Stellantis EV day last summer before being debuted at CES in January. With Dodge already making a muscle car, turning that into a product for Chrysler seems like a no-brainer. Thing is, Drive's information and Feuell's comments could be applied to the Airflow. It's on the STLA Large platform, will pack two motors producing a combined 402 hp, and fit a battery capable of juicing a 400-mile range. As far as we can tell, Chrysler has never called it a crossover yet. Not that the nomenclature would matter anyway, since any model name with brand equity can be turned into any other kind of vehicle (see: Aspen, Blazer, Maverick, et al). The Airflow name on an EV makes a logical tie to the original Airflow produced from 1937 to 1940, that original car so named because of its aerodynamic features. But if the Airflow EV hit the market as the new 300, we couldn't say we hadn't seen that trick before.

North America profit helps Fiat Chrysler limit its losses from coronavirus

MILAN — Italian-American automaker Fiat Chrysler Automobiles (FCA) posted a smaller-than-expected operating loss in the second quarter, as a small profit in North America helped to limit the damage wrought by the COVID-19 pandemic. FCA said on Friday it had an adjusted loss before interest and tax of 928 million euros ($1.1 billion) in April-June, versus a forecast 1.87 billion euro ($2.2 billion) loss in an analyst poll compiled by Reuters. The group also said it made adjusted earnings before interest and tax of 39 million euros ($46.2 million) in North America, the home market of its Jeep and Ram brands, in the quarter. Milan-listed FCA shares were up 1.2% at 1125 GMT, after being little changed before the results. Chief Executive Mike Manley said the group's plants were up and running and car dealers were selling in showrooms and online, following disruptions caused by the pandemic. "We have the flexibility and financial strength to push ahead with our plans," he said in a statement. FCA, which is set to tie-up with Peugeot maker PSA to create Stellantis, the world's fourth largest carmaker, said on ongoing probe launched by European Commission competition authorities was not expected to delay the merger timetable. Despite the pandemic, PSA earlier this week delivered a profit in the first half of the year and stuck to its medium-term margin goal. FCA said its industrial free cash flow was minus 4.9 billion euros in the second quarter, with a slightly lower cash burn compared with January-March.