Black Dodge Challenger R/t, 64,500 Miles Excellent Condition!!! on 2040-cars

Auto blog

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

Dodge could enter Peugeot's Le Mans-bound 9x8 hypercar in IMSA races

Fiat-Chrysler Automobiles (FCA) and PSA Group merged under the Stellantis umbrella in early 2021 to achieve economies of scale, and this benefit could surprisingly extend to racing. Executives are debating whether to give Dodge its own version of Peugeot's recently-unveiled 9x8 hypercar to race in America, according to a recent report. "While we only heard [the new rules] confirmed a week ago, it has certainly led to some very open discussion, not only about whether Peugeot might add races in the United States, but also about whether the spine of this car might have opportunities with other brands in the Stellantis Group. There are no conclusions yet, but there are now open discussions," affirmed Jean-Marc Finot, the Senior Vice President of Stellantis, in an interview with Racer. His comments refer to an agreement signed in July 2021 by the Automobile Club de l'Ouest (ACO), the Federation Internationale de l'Automobile (FIA), and the International Motor Sports Association (IMSA). They chose to align their technical regulations to let manufacturers compete in different events on both sides of the pond without going through the resource-consuming process of developing a specific car for each series. As of writing, the Le Mans Hypercar (LMH) and Le Mans Daytona h (LMDh) categories fall under the newly-announced common set of rules. On the surface, this means Peugeot could enter its 9X8 (pictured) in the WeatherTech SportsCar Championship as soon as the 2023 season. While this is seemingly under consideration, Peugeot has little to gain from winning a major race in the United States. It hasn't sold cars here since 1991, and its long-mooted comeback was canned after PSA merged with FCA. Giving a variant of the 9X8 to Dodge is a more credible possibility, according to Racer. If not Dodge, then who else? Chrysler hasn't been linked to racing or performance for decades. Jeep is no stranger to performance vehicles, but IMSA would be pushing it. Ram is Ram, while Fiat, Alfa Romeo, and Maserati are rooted in Europe. The rest of the Stellantis brands (like Opel, Lancia, and Citroen) are not distributed in America. Nothing is official, and the publication stressed it's unclear whether Dodge will commit part- or full-time to the series (assuming the program receives the green light). Finot underlined the parallel car would use the 9X8's "spine," so don't expect to see a Peugeot hypercar with a Dodge emblem driving flat-out on the Sebring International Raceway.

Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.