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Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.

Rare Dodge Daytona found in barn heads for auction

An American icon is headed to Mecum's Kissimmee, Florida auction next January. Charlie Lyons, owner of a restoration shop focused on old Chrysler products, got a lead on a two-owner 1969 Dodge Charger Daytona that had been sitting in a barn in Glenwood, Alabama for decades. Dodge built 560 Charger Daytonas (Canada and US production) to homologate the model for NASCAR racing, and then that car and the successor Plymouth Superbird terrorized NASCAR tracks for 18 months. The production car, however, 18 feet long and considered ugly, wasn't popular at the time, so many were beat up or simply disappeared. Around 385 are thought to exist today. Lyons said the first owner of this car was the town judge, who bought it for his wife. In 1974 the second owner - just 18 years old at the time - bought it for $1,800 so he could drive it to Panama City, Florida, for Spring Break, and had flames painted on the front fenders and the scallops trimmed in white. Otherwise this barn find is complete and stock, with matching numbers throughout, R4 Charger Red paint and a white tail, bucket seats, center console, three-speed TorqueFlite automatic, and 20,553 miles on the 440-cubic-inch Magnum V8. Hot Rod has the long story of how Lyons found the car and convinced the owner to sell for what he jokingly called "a shoebox full of folded money." Hagerty says a concours-worthy model can command $262,000. Mecum's pre-sale estimate for this Charger Daytona is $150,000 to $180,000. That sounds steep, but Mecum did sell another perfectly restored Hemi-powered 1969 Charger Daytona for $900,000 at this year's Kissimmee auction to actor David Spade. Related Video:

Dodge designer on yellow plastic splitter guards: 'I wish they would take them off'

About a year ago, Dodge began placing yellow strips of plastic on the leading edge of Charger and Challenger front splitters to prevent damage during transport from plant to dealer. Dodge embossed "To Be Removed By Dealer" into the plastic, but those instructions weren't always followed. By summer of 2018, so many owners had left the tabs on, or reinstalled a discarded set, or bought a set on eBay for $100 or more, that factions broke out. Some thought the protectors looked cool, some thought they looked foolish, some thought it didn't matter either way. Now Dodge and SRT lead designer Mark Trostle has stepped in with his thoughts, those being, "I wish they would take them off."  Trostle made the remarks at the end of a video by Canadian auto scribe Brian Makse that otherwise dove into the design and technology on the 2010 Charger Widebody. Part of the designer's remarks related to aesthetic aspects — designers are paid to be precious about every line they draw, after all. "When we did the sketch for the Charger and Challenger," he said, "it never had yellow strips on it," and, "To me, as a designer, it ruins the lines of the car." He had a functional reason as well, though: "You're just ruining the paint!" The paint issue convinced Tyler Grant, the Internet sales manager at a Dodge dealer, to make a Facebook post in April this year requesting owners remove the splitter guards. Grant wrote that because the guards aren't specifically molded to fit perfectly, dirt and moisture get between the plastic and the splitter and mar the clear coat or paint, illustrated by a scuffed example that had been driven just 18 miles with the protectors on. He ended with, "Please, on behalf of your splitter AND its paint, take off the splitter guards." Despite forum chatter, splitter-shaming Facebook photos, and Facebook groups like "Hey Pal, You Forgot to Take Your Splitter Guards Off," it appears too late for the protector color to curb (get it?) the trend. Owners have already dealt with the dirt issue by putting protective tape on the air dam, others have painted the spilitter guards to match the car, and the owner of a vintage Dodge pickup ran yellow tape across the width of his front bumper in an attempt to join the party.  In the Makse video, Trostle said that the automaker would soon be rolling out a "new fashionable purple color" for the protectors. "We'll see if that one takes off," he said. "I hope it doesn't."