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FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Junkyard Gem: 1963 Dodge Dart two-door sedan

The 1963-1966 Dodge Dart, sibling to the Plymouth Valiant, was sturdy, cheap, and easy to drive, and it sold very well. Here's a worn-but-solid example of the two-door '63 Dart sedan, spotted in a Denver-area self-service wrecking yard. The only transmission choices for the Dart this year were a three-speed manual and an automatic controlled by Chrysler's famous dash-mounted pushbutton shifter. These shifters worked surprisingly well, even when used for road racing. Starting in the 1964 model year, the Dart could be purchased with a 273-cubic-inch V8 engine, but in 1963 Dart buyers had but two engine choices: a slant-6 displacing 170 cubic inches and good for 101 horsepower and a slant-6 displacing 225 cubic inches and making 145 horsepower. This car has the big engine. This is one of the most reliable engines to come out of Detroit, period. The interior is pretty beat, but the metal isn't rusty. You'd think that someone would have rescued this car long before it came to this sorry end, but perhaps Dart restorers only want numbers-matching V8 cars these days. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "The new kind of compact in the large economy size."

Before Jay Leno, this 1970 Dodge Charger was a SEMA star

When Jay Leno drives an awesome car, enthusiasts take note, and this week the internet blew up over the 1970 Dodge Charger resto-mod that starred in a recent Garage episode. But you might not remember: this strapping Charger, called "Tantrum," was one of the highlights of the SEMA Show in Las Vegas last fall. Here's another look at a true Mopar monster. The power: Yep, Tantrum has 1,650 horsepower. That's more than two Hellcats worth of power under the hood. It's a twin-turbo 9.0-liter Mercury Racing engine with a quad-cam four-valve setup. Basically, it's a V8 boat motor developed for cars. Mercury Marine is the crew that developed the V8 for the 1990s Chevy Corvette ZR-1. That all-aluminum LT-5 under the hood cranked out 405 hp – an astronomical figure for the time – and helped make the ZR-1 an icon. Take a listen to Tantrum's 9.0-liter Mercury mill below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Who's behind all of this? SpeedKore, a Wisconsin-based performance shop that does one-off pro touring builds. It specializes in remaking Detroit muscle with modern features like carbon fiber, bespoke interiors, and powerful engines. SpeedKore is pretty good at it. Before it threw a Tantrum, it did the "Cudinator" used in some of the Fast and the Furious movies. You might not know: Tantrum won the Best Domestic category of the GT Awards at SEMA – chosen by your author. The sinister looks were the hook, and the crazy engine solidified its performance cred. Related Video: Image Credit: SpeedKore Design/Style Dodge Coupe Performance Videos Jay Lenos Garage 1970 dodge charger resto mod