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Buyers ditching expensive European sedans to buy expensive American trucks

The New York Times ended the automotive week with a story that adds numbers and context to a range of other stories, from the crossover craze to the increasing median price of a new car to ever more grandiose pickup trucks. The NYT piece reveals that the shift to larger vehicles isn't merely about the average U.S. buyer swapping the midsize sedan for a Ford Edge. Luxury buyers are migrating from plush sedans to plush SUVs and trucks that creep close to six-figure prices, and the Detroit Three are running Treasury presses because of it. From 2013 to 2017, the truck category — everything from pickups to minivans — climbed from 30 percent of the market to 41 percent. In January of this year, trucks claimed 66 percent of new vehicle sales. At the milk-and-honey end of profits, GMC alone accounted for 11.3 percent of all vehicle sales over $60,000, not just trucks. That puts the luxury truck maker behind Mercedes-Benz and Ford, The Blue Oval's feasting on Lariat, King Ranch and Raptor versions of the F-150, which make up more than half of that pickup's sales, putting it ahead of Chevrolet, Porsche and Lexus on the high-dollar sales list. The average transaction price of a GMC in Denali trim last year was $56,000; it's easy to see why, when one dealer told the NYT he just swapped a 2012 BMW 550i for a $71,000 GMC Sierra Denali. That truck starts at $52,900. The NYT started its story with a buyer who took home a Ford Raptor instead of an Audi A6, and optioned that $50,020 Ford Raptor close to $80,000. Over at Lincoln, the new $72,055 Navigator — the one so popular that Ford will increase production — crossed hands for an average sale price of $77,000 in January. And a Jeep dealer told the NYT that the two $93,000 Trackhawks he had on his lot "won't be here more than a few weeks." While trucks head up in sales volume and price, cars are headed so viciously in the opposite direction that "the Detroit Three and even some foreign manufacturers acknowledge they are now losing money on many of the cars they sell." So ... get ready for a lot more crossovers and trucks. Related Video: Find out what vehicle is right for you. Give our Car Finder tool a try.

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.

Woman who survived plunge off Big Sur cliff posts pics of wrecked Jeep

The woman who survived seven days on a remote beach after plunging off a cliff on California's Highway 1 has posted photos of her wrecked Jeep Patriot on the beach at low tide. Along with details of the story Angela Hernandez has previously shared, the photos suggest she's lucky to be alive. Hernandez's ordeal began around midday on July 6, when she was driving southbound through Big Sur and an animal suddenly appeared in the road in front of her. She swerved to avoid hitting it and lost control. "I don't really remember much of the fall," she says. "They say I fell somewhere around 250 feet." Hernandez, 23, had been reported missing in the Big Sur area on her journey from Portland, Ore., to Southern California, but heavy fog had complicated search efforts. She was eventually found by a couple hiking the coastline in search of a fishing spot and was hoisted up the cliff by rescuers and taken to a hospital. She suffered a brain hemorrhage, collapsed lung, ruptured blood vessels in both eyes and four broken ribs and broken collarbone, plus an intense sunburn. She says she remembers only waking up in her car and feeling the Pacific Ocean rising over her knees. She used a multitool to break the window, then jumped into the water and made her way to shore, where she promptly passed out. In the coming days she used a piece of hose that broke off her Jeep to collect fresh water dripping off mounds of moss for drinking. "The next few days kind of became a blur," she wrote on Facebook. "I'd walk up and down the beach in search of another human being. I'd climb on rocks to avoid the sharp sand, walk along the shore to avoid the hot rocks, and air wrestle tiny crabs. I found a high spot I was able to climb up to and found myself there almost every day. I could see cars driving across the cliff and felt like if I could yell just loud enough, that one could hear me or see me. That's all it would take to make it back to my family. Just one person noticing me. I'd usually stay there until the sun became unbearable and then would find a way to slide myself back down to the shore." It sounds like the accident has given her a new lease on life. Her most recent Facebook update is a short video of her playing a guitar. "Wasn't sure if I'd still be able to play after my accident, so this makes me so happy," she writes. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.