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Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

AEV Ram Prospector First Drive

Honestly, the trails that rise above Southern California's Rowher Flats aren't much of a challenge. You can still get yourself hurt if you do something stupid, but the trails are mostly hard-packed dirt with some rocks strewn about. No boulder crawling or river forging here. It's a place that's almost beneath the mighty abilities of the AEV Prospector Ram trucks I'm here to drive. American Expedition Vehicles (AEV) has long been in the business of building seriously capable Jeep Wranglers. Wranglers built for crossing Australia or crawling across the Moab. Wranglers converted into pickups and Wranglers done up in fancy Filson duds. They all have the kind of rugged good looks that project positive sunshine competence vibes about the people who drive one. That's no matter how big a dork the doofus behind the wheel actually is. And now AEV has moved on to modifying and producing parts and complete packages for Ram pickups. Because, why not? Actually AEV has been twisting on Rams since at least 2013 when it produced a Ram concept truck for that year's SEMA Show in Las Vegas. And what happened in Vegas hasn't stayed in Vegas. Sitting on the dust at one of the Rowher Flats assembly areas, AEV's two 2015 Ram "Prospectors" look as if they're making the horizon itself cower. It's not like we're going to be scuba diving today, but the snorkels that snake up each truck's right A-pillar are enough to make even the most jaded off-roader slobber in naked desire. These things don't just look great, they look epic – if Homer were around he'd put aside his Iliad to write up this drive. Reaching back into Dodge truck history – when Dodge trucks were Dodges – AEV has adopted the Prospector name for its modified Rams. Back in the late 1970s and through the 1980s Prospector had been used on various Dodge trim and equipment packages fitted to pickups, vans, and the Ramcharger large SUV. Yes, there were even Prospector packages for the Mitsubishi-made D50 small pickup and the Rampage pickup based on the front-drive Omni. The shovel and pick Prospector logo on the AEV vehicles comes straight from those old Dodges. The gray Ram 2500 crew cab is riding on 37-inch tall BFGoodrich Mud-Terrain T/As surrounding AEV's 17-inch Salta HD wheels and is powered by Ram's latest 6.4-liter Hemi V8. Rated at 410-horsepower by the factory, the gasoline-burning 6.4 Hemi is almost a throwback to the days before every three-quarter-ton and one-ton pickup owner became obsessed with turbodiesels.

Chrysler's Woodward Dream Cruise festivities include Ram concept truck debut

The streets will be crowded next weekend along Woodward Avenue in Royal Oak, Michigan for the 19th Annual Woodward Dream Cruise. As part of the run-up to the festivities, Chrysler has announced that all of its brands - Chrysler, Jeep, Dodge, Ram, Fiat, SRT and Mopar - will bring along their latest vehicles. Also included will be a collection of classic American cars and various activities for attendees at the official Chrysler location on the corner of Woodward and 13 Mile Road.
Special to this year, Ram brand director Bob Hegbloom and head of design John Dehner will unveil a Ram concept truck on Saturday. Chrysler will also bring Ryan Friedlinghaus of West Coast Customs fame along to show off a few custom Chrysler-made vehicles of his own. Fans of the brand on Facebook will get the chance to virtually customize a vehicle from the automaker's portfolio, with the winner getting their dream car built for them by Chrysler. Pretty cool stuff, no?
As in past years, Ford and General Motors will have an official presence at the event as well, and you can expect to see plenty of cars of all makes and models from all parts of the globe. The madness starts this Friday, August 16, from 4:30 PM to 10 PM, with the main event taking place on Saturday, from 9 AM to 9 PM. For more details on the show, including events and their times, check out the press release below.