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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.

Dodge CEO and Gas Monkey Garage dissect the 10-second Challenger Hellcat

So far, whenever we've seen the 2015 Dodge Challenger SRT with its 707-horsepower, supercharged Hellcat V8, the muscle car has been smoking its tires. Dodge is finally proving that the SRT can do more than ruin perfectly good sets of rubber, though. In it's latest video, company CEO Tim Kuniskis hands the Hellcat off to the guys from Gas Monkey Garage to show how quickly the automaker's most powerful model can make it down the drag strip.
Of course, the only fitting contender to race against Dodge's latest top muscle car is its grandpa - a Hemi-powered 1971 Challenger, in this case. Before getting to the main event, the hosts also show off some of the SRT's unique features like the blanks in the grille that feed the intercoolers. We'll go ahead and spoil that the Hellcat makes its pass in the 10-second range, and the video admits the tires on the production version would take just a touch longer to cover the quarter-mile. However, you have to watch film to see just how quick it actually goes. Scroll down to see a classic example of American muscle drag racing against its modern legacy.

Dodge Challenger SRT Hellcat's 707 storming horses can be yours for $60k

We love a good deal on high performance. It's what traditionally makes muscle cars so appealing - you get lots of speed, for not a lot of money. For 2015, Dodge has taken this to its logical extreme, offering its new 707-horsepower, supercharged, V8-powered Dodge Challenger SRT Hellcat for just $59,900. For those wondering, that works out to just about $85 per horsepower, which when compared with a typical budget performance car, like the $24,995, 210-hp Volkswagen GTI ($119 per hp), demonstrates the Hellcat's astonishing value.
The information was revealed by a photo (click on the inset image to expand) taken at this week's Portland launch event (our man Seyth Miersma is just now on the ground and will have a full report on the madness that is the Hellcat soon) for the entire 2015 Challenger range, and reveals the Hellcat's price alongside its high-powered competitors from Ford and Chevrolet.
The discontinued 662-hp Mustang GT500 started at $56,000, while the 580-hp Camaro ZL1 starts off at $58K. Indeed, the only muscle car that outprices the Hellcat is the track-focused Camaro Z/28, a car that we're guessing could still wallop the Hellcat on the right piece of track, despite being down over 200 hp.