2015 Fiat 500 Abarth Convertible on 2040-cars

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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.

FCA workers get raises, health care co-op in new UAW deal

The pending labor agreement between FCA US and the United Auto Workers is now in the hands of union members to confirm. It's expected to be accepted, but a final decision could take weeks, The Detroit News reports. Employees didn't get everything they were hoping for, and contrary to earlier reports, the two-tier wage system remains in place. However, there are attempts to lessen the difference between the levels in this four-year deal. Assuming FCA US workers agree to this offer, the starting pay for tier-two workers would go up around a dollar to $17 an hour. The other level would now begin at $25.35, about a $6 increase, and they would receive 3 percent raises in the first and third year of the deal. Both groups also get $800 in profit sharing for each percent the automaker's profit margin rises above two percent. Extra money kicks in for the second tier above eight percent. Union members get a $3,000 bonus for accepting this contract, as well. The other major change under the pending agreement is the previously rumored switch to a healthcare co-op. The goal is to collect members from the Big Three together to create a huge member base for leverage to negotiate better rates with insurance companies. The UAW is promising no increase in cost to workers, according to The Detroit News. The idea was inspired by the similar structure for the Voluntary Employee Beneficiary Association for union retirees. UAW boss Dennis Williams expects the agreement to be approved. "Once the membership looks at it, hears the explanation for it, I think they'll ratify it," he said, according to The Detroit News. The next step is to craft similar deals with General Motors and Ford. Related Video:

Stormtrooper-painted Fiat 500 brings Star Wars to LA Auto Show

Some of you might have heard that Star Wars: The Force Awakens is opening on Dec. 8. FCA US is one of the brand sponsors paired up with Lucasfilm on the cinematic Third Coming, so it's been rolling out themed products to get ready. At this week's LA Auto Show it showed off a Fiat 500e draped in the same lack-of-colors as customized by Garage Italia, the artistic tuner headed by Fiat scion Lapo Elkann that recently brought us the Alfa 4C La Furiosa. The 500e is ready for the First Order Legion - it might save them all that marching - with a black-and-white wrap that mimics the helmet across the windshield and hood, and puts Stormtrooper graphics on the wheel centers. The theme continues inside with custom leather and Alcantara seating, graphics painted in lacquer, and a Stormtrooper looking back at you from the steering wheel. Previously, FCA dressed up Dodge Chargers up like Stormtroopers and put them into Uber service in New York. The FIAT Brand Displays Custom Painted Fiat 500e "Star Wars: The Force Awakens" Stormtrooper and Diane Von Furstenberg Custom-wrapped Fiat 500X at 2015 Los Angeles Auto Show November 19, 2015 , Auburn Hills, Mich. - The FIAT brand will have two special custom-designed vehicles on display at the 2015 Los Angeles Auto Show. As part of the FCA US LLC support of "Star Wars: The Force Awakens," opening December 18, the FIAT brand will display a custom-painted Fiat 500e stormtrooper. Lucasfilm recently announced that it is collaborating with FCA US, in addition to six other global brands, for the launch of an expansive, historic promotional campaign in support of "Star Wars: The Force Awakens." The exterior livery of the Fiat 500e stormtrooper is inspired by the armor of the First Order Legion, with a two-tone black and white custom painting of the car body. The windshield and the side windows are wrapped to bring out the immediately recognizable visor and helmet of the First Order stormtrooper. Inside, everything is in black and white, too, with total custom front and rear seats upholstered in leather and Alcantara®. The dashboard is painted in white and it is enriched by the "Star Wars" logo on it. All the details are painted in white/black lacquer, and a First Order insignia can be found on the two-tone leather-wrapped steering wheel.