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Stellantis wants to trim 3,500 hourly U.S. jobs, UAW says

WASHINGTON — Chrysler-parent Stellantis NV wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday. The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page. Stellantis spokeswoman Jodi Tinson declined to comment. A person briefed on the matter said the figure might be lower than the figure cited in the UAW letter. In late February, Stellantis indefinitely halted operations at an assembly plant in Illinois, citing rising costs of electric vehicle production. The action impacted about 1,350 workers at the Belvidere, Illinois, plant that built the Jeep Cherokee SUV and resulted in indefinite layoffs. The automaker has warned it may not resume operations as it considers other options. The UAW letter said openings created by workers leaving would be filled by workers on indefinite layoff. Stellantis said in February that about 40,000 U.S. hourly workers were eligible for profit sharing. Last week, UAW President Shawn Fain said Stellantis' decision to idle the Illinois plant was "a flat-out violation" of the union's contract with the UAW and is unacceptable. The UAW will enter talks with the Detroit Three before labor contracts expire in mid-September. Earlier this month, General Motors said about 5,000 salaried workers accepted buyouts to leave the automaker. GM CEO Mary Barra said February job cuts of a few hundred jobs and the 5,000 buyouts "provided approximately $1 billion towards" a $2 billion cost cutting target. Ford Motor Co recently announced significant job cuts in Spain, Germany and other parts of Europe and in August said it would cut a total of 3,000 salaried and contract jobs, mostly in North America and India. Hirings/Firings/Layoffs UAW/Unions Chrysler Dodge Fiat Jeep Maserati RAM Stellantis

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.

2020 Dodge Challenger Review & Buying Guide | The most muscular muscle car

Despite going more than a decade without a complete redesign, the Dodge Challenger is alive and well, and still worth your consideration. Primarily, it offers more of a classic muscle car experience focused on straight-line performance and comfort that its rivals from Ford and Chevy that skew closer to sports car dynamics. The Challenger has the brash, broad-shouldered design to match that muscle car feel, too. And its big body brings more space and practicality than the competition. The 2020 Dodge Challenger also has a few unique bragging points. It's the only one of the modern pony cars to offer all-wheel-drive, which is a boon to people living in snowy parts of the country. And the Hellcat Redeye is still the most powerful pony car on the market with a whopping 797 horsepower from its supercharged 6.2-liter V8. Of course, there is a multitude of other Challenger models beyond those two examples, though, with many customization options from colors to wheels and trim. We think pretty highly of them all, proving that just because something is getting on in years doesn't mean it's any less relevant.  What's new for 2020? The 2020 Dodge Challenger brings a small number of updates. There are new wheel designs for every trim except the base rear-drive SXT. Three new colors are available with typically excellent Mopar names: Hellraisin, Sinamon Stick and Frostbite. Dodge has also made some welcome efforts to spruce up the interior with stitched dash and door panels on leather-equipped Challengers, carbon fiber trim and faux suede options for V8-powered cars and caramel-colored Alcantara for the GT, R/T and R/T Scat Pack trims.   What's the interior and in-car technology like? The Challenger's interior certainly isn't as characterful and flamboyant as its exterior would suggest. The Mustang and Camaro are more interesting and distinctive inside. Still, there are some interesting design flourishes that spruce things up, from the base trim's standard houndstooth cloth to the two-tone leather choices available as options. Besides, we're not sure how flamboyant you need the interior to be in a car available in electric orange, blue, green and purple paint colors. Furthermore, what the Challenger interior may lack in visual pizzazz, it makes up for with space (see below) and technology. A 7-inch touchscreen is standard, but all trim levels have an 8.4-inch version available as an option or standard.