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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 Concept XR-PHEV II points the way forward with its angular look [w/video]

The Mitsubishi Concept XR-PHEV II on display at the Geneva Motor Show isn't really a completely new vehicle but more of thorough reworking of the earlier XR-PHEV from the 2013 Tokyo Motor Show. For the latest interpretation, the Japanese brand is getting the design ready for an eventual debut for the road. While the two concepts look practically identical at first glance, the XR-PHEV II is far more possible for production than its predecessor. The grille and hood now feature openings to let the vehicle cool its plug-in hybrid system, and the rear design offers enough glass to actually let the driver see out of the back. The interior for the latest version also looks mostly functional this time and is clad in eye-catching orange upholstery. The XR-PHEV II's powertrain is a bit more mysterious, though. It's a front-wheel drive PHEV that's powered by a 12-kWh battery and offers a total output of 160 horsepower. However, Mitsubishi isn't taking about the internal combustion engine's displacement or the model's transmission. Still, the company is clear that this look is a glimpse at its future crossovers, and that would be a welcome change. XR-PHEV II's more angular design would certainly liven up Mitsubishi's somewhat staid lineup.