2001 Dodge Ram 1500 4x4 Extended Cab on 2040-cars

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Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

Stellantis reports surprising 2020 results, is 'off to a flying start'

MILAN — Low global car inventories and cost cuts should boost Stellantis's profit margins this year, though a shortage of semiconductors and investments in electric vehicles could weigh on results, the newly-formed automaker said on Wednesday. The forecast came as Stellantis, created by the January merger of Peugeot-maker PSA and Fiat Chrysler (FCA), reported better-than-expected results for 2020 that sent its shares up around 3% in morning trading. "Stellantis gets off to a flying start and is fully focused on achieving the full promised synergies (from the merger)," Chief Executive Carlos Tavares said in a statement. Stellantis is the world's fourth largest carmaker, with 14 brands including Fiat, Peugeot, Opel, Jeep, Ram and Maserati. It said 2021 results should be helped by three new high-margin Jeep vehicles in North America and a strong pricing environment there. The U.S. market has driven profits for years at FCA and starts off as the strongest part of Stellantis. The group's guidance assumes no more significant lockdowns caused by the global COVID-19 pandemic, which shuttered auto plants around the world last spring. Stellantis should also get a lift as its starts to implement a plan aimed at delivering over 5 billion euros a year in savings, without closing any plants. Tavares has also pledged not to cut jobs. But a pandemic-related global shortage of semiconductors, used for everything from maximizing engine fuel economy to driver-assistance features, could hurt business. Auto industry executives have said the shortage should ease by the second half of 2021. Stellantis said its "electrification offensive" could also weigh on results this year. Automakers are racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of carmakers aiming for a fully-electric line-up by 2030. Stellantis plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025, broadly in line with plans at top rivals such as Volkswagen and Renault-Nissan, although Stellantis has further to go to meet that goal. The carmaker is targeting an adjusted operating profit margin of 5.5%-7.5% this year. That compares with a 5.3% aggregated margin last year: 4.3% at FCA and 7.1% at PSA excluding a controlling stake in parts maker Faurecia, which is set to be spun-off from Stellantis shortly.

Dodge recalls 2011-2016 Charger to give owners wheel chocks

A bizarre new recall gives wheel chocks to Dodge Charger owners so that people remain safe while changing the sedan's wheels. The campaign covers 441,578 examples of the 2011-2016 Charger in the US; plus 19,229 in Canada; 4,969 in Mexico, and 38,947 outside the NAFTA region. According to Dodge's announcement, owners should use the chocks to stabilize the Charger when using a jack to change the wheels, like in the case of a flat tire. Without them it's possible for the sedan to fall off the jack. The company is aware of three minor hand injuries from this problem. Dodge will notify owners by mail when they can pick up the free wheel chocks. FCA US spokesperson Eric Mayne offered Autoblog a more detailed explanation about this recall. "The body structure of this vehicle is unique. If owner's manual instructions are not followed, slippage may occur. Chocks are being provided to help ensure the instructions are followed," he said. "We are continually analyzing warranty data to identify ways to improve the ownership experience. When tire-jack data was reviewed, we identified a need to further assist our customers." Statement: Wheel Chocks February 3, 2016 , Auburn Hills, Mich. - FCA US LLC is conducting a voluntary safety recall to supply wheel chocks for an estimated 441,578 full-size sedans in the U.S. The chocks are for use, as instructed in the vehicle's owner's manual, when employing a tire jack to change wheels. When positioned diagonally opposite to the wheel being changed, the chocks will help stabilize the vehicle. Failure to follow the manual's instructions with an affected vehicle may cause the vehicle to come off the tire jack. FCA US is aware of three related injuries – all minor. The recall is limited to 2011-2016 Dodge Chargers. Also affected by the campaign are an estimated 19,229 cars in Canada; 4,969 in Mexico and 38,947 outside the NAFTA region. Recall notices will advise affected customers when they may obtain their wheel chocks, which will be supplied free of charge. Customers with questions or concerns may call the FCA US Customer Care Center at 1-800-853-1403.