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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

Watch 1,414-hp worth of Dodge Challenger SRT Hellcat do stereo burnouts

When Dodge announced that the 2015 Dodge Challenger SRT Hellcat would produce 707 horsepower and 650 pound-feet of torque from its supercharged 6.2-liter V8, automotive enthusiasts were shocked. The company had promised us that it would be powerful, but no one expected for the muscle car to post even larger numbers than the range-topping Viper.
Car and Driver recently got ahold of two new SRTs and decided that the only proper way to show them off was by lighting up the rears in stereo. With a combined 1,414 horsepower, the pair of them make burnouts from the Hellcat V8 look as easy as breathing. The tires start spinning at the slightest provocation and just don't stop. If you buy one of these, it looks like you and the employees at the local tire store are going to be on a first name basis.
Scroll down to watch these two Hellcats to lay down enough smoke to alert the local hook and ladder trucks.

2016 Dodge Challenger and Charger Hellcats see doubled production

The launch of the Hellcat supercharged V8 in the Dodge Challenger and Charger for the 2015 model year was a massive success. The one-two punch of muscle cars probably grabbed the brand more headlines than it had seen in ages by offering a world-beating 707 horsepower from the growling engine under the hood. The only real wrench in the works was keeping up with all of the orders. For 2016, Dodge might have fixed that little problem with plans to make more than twice as many of these mean machines Despite production seeing a massive boost, a few customers with orders for 2015 examples will need to wait just a little longer to experience those 707 ponies. The automaker will cancel any unscheduled, sold orders for the current model, but those buyers will receive a discount on the 2016. Similar to last year, dealers will earn their allocation of the muscle cars based on Dodge sales and how long the Hellcats stay on their lots. There are some very tiny changes for any buyers who are holding out for the 2016 Hellcats, too. Mechanically, they are identical to the 2015s with a 6.2-liter supercharged V8 and eight-speed automatic. The interiors see some improvements, though. Both the Challenger and Charger now receive standard Laguna Leather upholstery and an improved 8.4-inch Uconnect system with navigation, an HD radio, and five years of SiriusXM Travel Link and Traffic. Orders for both open in the second week of August, and production actually begins in September in Brampton, Ontario, Canada.