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PSA shares rise following FCA's breakup with Renault
Thu, Jun 6 2019Shares 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
2023 Japan Mobility Show Mega Photo Gallery: All the highlights and reveals from Tokyo
Fri, Oct 27 2023The 2023 Japan Mobility Show managed to serve up a surprise heap of exciting and futuristic designs and production reveals. Our staff was on the ground in Tokyo for this year's show, where we captured not just all of the latest automotive trends, but some genuinely weird and fascinating stuff. Browse: Some Delightful Oddities of the 2023 Japan Mobility Show But on to the cars. This year's show featured introductions from Daihatsu, Honda, Lexus, Mazda, Mitsubishi, Nissan, Subaru, Suzuki and Toyota. Some are weird; some are wild; most are probably destined to change significantly before production or merely fade into the void with the rest of the industry's vaporware, but if even a few of these make it to showrooms, we'll consider it a win. Scroll on down for our live galleries of each of the show's major debuts (and cars we're only now seeing in person for the first time). Enjoy!  BMW X2 and iX2 BMW X2 View 6 Photos  Daihatsu me:MO Concept Daihatsu me:MO concept View 14 Photos  Daihatsu Vision Copen Concept Daihatsu Vision Copen View 7 Photos  Daihatsu Osanpo Concept Daihatsu Osanpo View 6 Photos  Daihatsu Uniform Concept Daihatsu Uniform concept View 6 Photos  Honda Prelude Concept Honda Prelude concept View 5 Photos  Honda Sustania-C and Pocket Concepts Honda Sustania-C and Pocket Concept View 8 Photos  Honda CI-MEV Concept Honda CI-MEV View 3 Photos  Infiniti Vision Qe Concept Infiniti Qe concept View 14 Photos  Lexus LF-ZC Lexus LF-ZC View 8 Photos  Lexus LF-ZL Lexus LF-ZL View 10 Photos  Mazda Iconic SP Mazda Iconic SP concept View 8 Photos  Mitsubishi D:X Concept Mitsubishi D:X Concept View 8 Photos  Nissan Hyper Force Concept Nissan Hyper Force concept View 11 Photos  Nissan Hyper Tourer Concept Nissan Hyper Tourer concept View 6 Photos  Nissan Hyper Punk Concept IMG_6533 copy View 8 Photos  Subaru Sport Mobility Concept Subaru Sport Mobility Concept View 7 Photos  Suzuki Swift Suzuki Swift View 5 Photos  Suzuki eWX Suzuki eWX Concept View 3 Photos  Suzuki eVX Suzuki eVX concept View 4 Photos  Toyota Land Cruiser Se Concept Toyota Land Cruiser Se concept View 4 Photos  Toyota FT-3e Concept Toyota FT-3e View 6 Photos  Toyota FT-Se Concept Toyota FT-Se View 7 Photos   Tokyo Motor Show Honda Infiniti Lexus Mazda Mitsubishi Nissan Subaru Suzuki Toyota
Mitsubishi HQ raided by the Japanese government
Fri, Sep 2 2016Mitsubishi's fuel economy scandal continues to grow, and the Japanese government wants answers. According to Reuters, the Japanese Transport Ministry raided the company's headquarters and a factory in Nagoya today. This raid comes soon after the company revealed that a number of its SUVs were also being sold with incorrect fuel economy ratings. The Japanese government issued a stop-sale on those vehicles a few days ago. This raid also follows an internal investigation conducted by Mitsubishi to discover how this fuel economy scandal happened, and how the practices that led to it were able to continue for 25 years. The internal investigation revealed a few contributing factors that all fell under issues with the company's culture. There was significant pressure throughout the company to reach fuel economy targets and missing them wasn't readily accepted. Questioning decisions of management was also discouraged, and it seemed the different divisions of the company weren't working well together. The findings of this raid have yet to be revealed, but it will be interesting to see how they compare with those of the internal investigation. The Japanese Transport Ministry seems intent on preventing a repeat of this with another company considering that, according to Reuters, it "sent documents to other automakers to enforce compliance with rules for calculating mileage ." Related Video: News Source: Reuters via Automotive News EuropeImage Credit: Julien Amado / Autoblog Quebec Government/Legal Green Mitsubishi Fuel Efficiency investigation