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FCA-Renault merger faces tall odds delivering on cost-cutting promises

FRANKFURT/DETROIT — Fiat Chrysler Automobiles and Renault promise huge savings from a mega-merger, but such combinations face tall odds because of the industry's long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. BMW's 1994 purchase of Rover, and Daimler's 1998 merger with Chrysler both made sense on paper. The companies promised to hike profits by combining vehicle platforms and engine families. Both combinations proved unworkable in reality, and were unwound. Renault and Nissan, which have been in an alliance since 1999 designed to share vehicle components, have only managed to use common vehicle platforms in 35% of Nissan's products despite an original target of 70%, according to Morgan Stanley. FCA and Renault have raised the stakes for themselves by ruling out plant closures. That increases the pressure to achieve more than $5 billion in promised annual savings from pooling procurement and research investments. The two companies have yet to fill in many of the blanks in the merger plan put forward by Fiat Chrysler. Renault's board is expected to act soon to accept the proposal, but that would lead only to a memorandum of understanding to pursue detailed operational and financial plans. A final deal and the legal combination of the two companies could take months to complete if all goes well. Pressure to cut automotive pollution is driving the latest round of consolidation. Automakers are looking at multibillion-dollar bills to develop electric and hybrid cars and cleaner internal combustion engines. Fiat Chrysler and Renault are betting they can design common electric vehicle systems, then sell more of them through their respective brands and dealer networks, cutting the cost per car. Developing all-new electric vehicles can bring more opportunities to share costs from the outset, industry experts said. "With the emergence of connected, autonomous, electric and shared vehicles, carmakers face immediate investments, so new opportunities for sharing costs have emerged," said Elmar Kades, managing director at Alix Partners. However, most electric vehicles lose money. This is a challenge for city car brands in Europe in particular. Both Renault and Fiat rely heavily on this segment for sales.

Swarm of bees descends on man's Mitsubishi

A man in Wales got quite a shock when he returned to his car only to find it covered in bees. According to the South Wales Evening Post, an unnamed driver parked Mitsubishi Outlander in front of the Three Crowns Pub in Haverfordwest, a city in Pembrokesire, Southwest Wales. When he returned, he discovered a large swarm of honeybees had come to roost on the rear of the car. Thankfully, before anyone could disturb the bees, a Pembrokeshire Coast National Park ranger named Tom Moses came across the scene. "It was spectacular, I was driving through when I sported the big brown splodge," Moses told the Evening Post. "A lot of people were really amazed by it, cars were slowing down and people were taking pictures of it." The bees were swarming the car after their queen became lodged in the trunk, according to the Guardian. Moses has an interest in bees and often speaks to people about the ways in which bees are threatened by pesticides and habitat destruction. "At the national park, we like people to be aware of how important bees are and how people should be looking after them," Moses told the paper. The ranger contacted the Pembrokeshire Beekeepers' Association and two members came out to collect the swarm. "I was a little bit concerned, with it being in the middle of town outside a pub, that someone might do something stupid and get hurt or do something stupid and hurt the bees," Moses said. His concern is valid. It's a very bad idea to tangle with stinging insects when you don't know what you're doing. Bees swarm to protect their queen, and are liable to swarm anything they see as a threat. If you ever find yourself in this unlikely scenario, call a professional beekeeper who can safely remove the hive. Avoid hiring an exterminator though. Bee populations have a hard enough time as it is. Honeybee die-offs and disappearances have been on the rise since 2006. According to the United States Department of Agriculture, one of the primary culprits is Colony Collapse Disorder, which happens when all adult workers in a hive disappear leaving only immature bees and a queen behind. Related Video:

2017 Mitsubishi Outlander PHEV will debut in New York

Mitsubishi is betting big on crossovers and EVs, and some promising stuff is in store for the end of this decade. But in the very near future, the first product in Mitsubishi's EV/CUV strategy will launch in the US: the 2017 Outlander PHEV will finally bow at the New York Auto Show in March. I say "finally" because Mitsubishi already offers a plug-in Outlander in other markets, and overseas the PHEV crossover is off to a great start. Mitsubishi is seeing "great success in Europe," according to Ken Konieczka, the company's VP of sales operations. And when the Outlander PHEV launches in the US later this year, Konieczka thinks it'll attract a lot of new buyers to the Mitsubishi brand. I got to see the 2017 Outlander PHEV at a small event in Detroit on Thursday. It's the only one in the country, and still has to undergo some more testing and development before the CUV ready for the spotlight. Perhaps that's why Mitsubishi parked it in a dark corner of Detroit's Garden Theater. Compared to the regular Outlander you see pictured here, the PHEV doesn't look all that different save some badges on the tailgate and front fenders and, of course, the charging port. But that's not all Mitsubishi has in store for New York. The Mirage G4 sedan will also bow at that show, after its Canadian introduction at the Toronto Auto Show in February. Like the Outlander PHEV, the Mirage G4 already exists in other markets, and Mitsubishi says it has the largest interior volume of any sedan in its class. More information about both models – including pricing and specifications – will be available when both cars hit the Javits Center stage in March.