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PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

Despite missteps, Mitsubishi Outlander PHEV a hit in UK

Like a stiff breeze off the White Cliffs of Dover, UK sales of the Mitsubishi Outlander Plug-in Hybrid may have the wind at its back. That's because the Japanese automaker isn't charging any extra, relative to the diesel-powered Outlander. And UK's Duxford Auto Group says it's already feeling the positive effects. The auto dealership is conducting about a dozen test drives a day for potential (and curious) customers, Cambridge News says. More tellingly, Duxford Auto is rebooking another dozen or so test drives per weekend day because of pent-up interest. The company hasn't released UK sales figures, Mitsubishi spokesman Dan Irvin told AutoblogGreen, but Duxford Auto says sales will be stronger than expected, especially since the Outlander PHEV is exempt from UK congestion charges. Mitsubishi introduced the Outlander PHEV to the UK this spring. The bonus there was that, inclusive of a UK government grant, the car was priced at the equivalent of about $47,000, or about the same price as the base diesel-powered version. The model, which pairs a 2.0-liter gas engine with an electric motor, has an all-electric range of 32 miles. Mitsubishi ran into problems with the Outlander PHEV in spring 2013 after a battery melted at a Japan dealership, causing the company to halt production on the model. The company later discovered that some of the batteries were short-circuiting due to a flaw in the screening process. Once those issues were solved, Mitsubishi doubled its production rate last year to make up for lost time. Meanwhile, Automotive News reported last month that California regulators will delay sales of the model in that state to late next year or early 2016 because of battery issues. The state, easily the largest US plug-in vehicle market, wants Mitsubishi to include battery-degradation monitors for the car's lithium-ion batteries. Mitsubishi spokesman Alex Fedorak refuted the report that the Outlander PHEV may not be available in the US until 2016. "Launch plans for the US version of the Outlander PHEV remain unchanged with an expected debut of Fall 2015," Fedorak told AutoblogGreen.

Mitsubishi expects to sell only 4,000 Outlander PHEVs in first year in US

First, it was late 2013 or early 2014. Then it was the fall of 2014. And then it was "roughly" April 2016. Now we can strike "roughly" from the record: the Outlander Plug-In Hybrid will finally arrive in the US in April 2016. Alex Fedorak, public relations manager, Mitsubishi Motors North America, told AutoblogGreen that the company is now "confident in that date." The various delays that held up the SUV this far – including battery shortages, deciding to make the PHEV in the US the refreshed version and better-than-expected sales in Europe and Japan – have worked their way through the system, he said. "The issue was battery capacity, and the vehicle sold far better in Europe than anyone anticipated. It just takes time to build the battery. You got to buy raw materials and rethink the whole process. We're confident that it's going to be next spring." As for where the Outlander will go on sale in the US Fedorak said he did not know the initial markets for, but said it was likely the plug-in SUV would mimic the roll-out of the i-MiEV, which is now available in most states. Even with the Outlander PHEV's success overseas, the company does not expect it to be a big seller here. "It's not going to be big percentage of Outlander sales [in the US]," Fedorak said. "Our expectations are in the single-digit percentage of the total Outlander sales. It's just going to be a technology showcase for us, and we'll see what happens. If it takes off for us like it did in Europe, it'll be good news for the brand." Last year, Mistubishi sold 31,054 Outlander Sports and 13,068 Outlanders in the US. That means Mitsubishi expects to sell a maximum of 3,970 Outlander PHEVs (nine percent of 44,122 total Outlander sales) in the plug-in's first year on sale in the US. Fedorak said he doesn't think there are any specific regulatory issues that need to be solved to bring the Outlander PHEV here. Things like EPA certification and crash testing still need to be done, he said, but that's just part of the normal process now. Fedorak said he thinks there is no difference in the plug-in powertrain from the current version sold in Europe and Japan and the version that will come to the US. But the rest of the 2016 Outlander will be "much more than a facelift," he said (something we've heard before). "It's a total rethink of the chassis and the tuning of the vehicle. The NVH of the vehicle, too."Related Video: