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Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot

Jeep Cherokee sales rival Wrangler after two months

In our First Drive article on the 2014 Jeep Cherokee we said, "our informal and thoroughly unscientific opinion is they're going to sell tons of them. Why? Because it is very good." So far, it appears the public concurs. Of course, it's very early - the new compact utility has logged just one month of confirmed sales, but Larry Vellequette at Automotive News says dealers have told him that the second month of sales will be even better, a message that mirrors what we've heard from company execs.
In its first, severely truncated month on sale, the Cherokee sold 579 units. With all of November to play with, though, dealers moved 10,169 of them - compared to 11,753 Wranglers and 14,798 Grand Cherokees. That helped propel Jeep to a 30-percent year-on-year improvement for the month, Chrysler Group to a 16-percent improvement and the group's 44th consecutive month of sales growth, exceeding analyst expectations in posting its best November numbers since 2007.
If it can just keep replicating the its first month of sales, the finalist in North American Truck of the Year voting will smoke the trade done by the outgoing Liberty, which didn't break 7,900 units in a month in the last four years of its life (and normally didn't get close to even that). In March this year, Chrysler said it wants to build 250,000 Cherokees in its Toledo assembly plant for global sales. It's early yet, but with second-month sales quoted as being as "strong as death," the bookies might be resetting the odds.

Woodward Dream Cruise Photo Gallery | Classics and American muscle

The 2022 running of the Woodward Dream Cruise just went down, and we were there from morning to evening drinking in the sweet sights and pre-emissions exhaust fumes. Yes, it’s a little smelly on Woodward Ave. this time of year. Just like always, the Dream Cruise invites all comers to cruise their machines on Woodward from Ferndale, MI to Pontiac, MI. Everybody is invited, but the original intent of the Dream Cruise was to highlight classic American muscle cars. YouÂ’ll see plenty of those in our mega gallery above, but weÂ’ve sprinkled it with a bunch of other vehicle types, such as modern muscle and other intriguing American vehicles. Similar to years past, though, sometimes the classics arenÂ’t the most entertaining thing to look at on Woodward. ThatÂ’s why weÂ’ll have other mega galleries coming soon, highlighting the weird cars and (great) dogs of the Cruise, all the imports and exotics you can imagine and a special one for all the trucks of Woodward — perhaps even more so than in years past, the truck population on Dream Cruise day was quite high. Click through above to see all the classics you wouldÂ’ve seen had you been roadside on the day of the cruise. And if you missed this yearÂ’s event, make sure you check out what happens next year. You wonÂ’t be alone, as itÂ’s estimated that over 1 million people attend the Dream Cruise to either watch from the side of the road or to sit in the most glorious traffic jam in the world. Related video Featured Gallery 2022 Woodward Dream Cruise classics and American muscle View 160 Photos Design/Style Buick Cadillac Chevrolet Chrysler Dodge Ford GM GMC Hummer Jeep Pontiac RAM Classics Woodward Dream Cruise