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two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: NewtonMP2100
Date: December 18, 2019 07:23AM
.....making it 4th largest automobile maker.....


Fiat Chrysler, Peugeot owner agree to binding $50 billion merger deal

Fiat Chrysler and Peugeot maker PSA have reached a binding agreement over their roughly $50 billion merger that will reshape the global car industry.

France’s PSA and Italian-American Fiat Chrysler, which are yet to decide on a name for their new company, will now start work on delivering their pledge to cut costs by $4.1 billion a year without closing factories.

....Fiat Chrysler Automobiles and Peugeot maker PSA have reached a binding agreement over their roughly $50 billion merger that will reshape the global car industry.

France’s PSA and Italian-American Fiat Chrysler (FCA), which are yet to decide on a name for their new company, will now start work on delivering their pledge to cut costs by 3.7 billion euros ($4.1 billion) a year without closing factories.

That will be all the harder with politicians and strong labor unions in both France and Italy worried about job losses at a combined business that will employ around 400,000 people.

“The merged group will have to make massive savings and probably also close plants, even if the CEOs’ choice of words is different,” said NordLB autos analyst Frank Schwope after the binding agreement was announced on Wednesday.

French finance minister Bruno Le Maire, meanwhile, welcomed the move to bring together Europe’s second and third biggest carmakers, while adding the French government - a key shareholder in PSA - would remain vigilant on matters including where “decision centers” are located within the new group.

PSA and FCA announced preliminary plans six weeks ago for a 50-50 all-share tie-up that will rank as the world’s fourth-largest automaker behind Volkswagen, Toyota and the Renault-Nissan alliance.

The deal is aimed at helping both companies cope with slowing autos demand and the cost of building cleaner cars to meeting tougher emissions regulations.

With brands including Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati and Opel, the companies sold a combined 8.7 million vehicles last year, but have potential manufacturing capacity of 14 million, according to forecasters LMC Automotive.

They have yet to say precisely how they plan to tackle that potential excess, and which car platforms - or underlying vehicle structures - they will focus on, only detailing that most production would be concentrated on two platforms.

“At this stage, nothing is decided. We have been evaluating what the opportunities are,” PSA Chief Executive Carlos Tavares, who will head up the merged entity as CEO, told reporters.

There is no time to lose as both PSA and FCA are “currently lagging far behind the competition in terms of technology and product range,” NordLB’s Schwope said.

PSA and FCA said in a statement they expected the deal to close in the next 12 to 15 months, and they would come up with a name over the coming months.

FCA said it would meet unions on Friday to discuss the merger.

At 0845 GMT, PSA shares were up 1.2% at 22.37 euros. FCA’s stock was up 0.2% at 13.63 euros.



urge..............to..........merge...........?!



_____________________________________

I reject your reality and substitute my own!



Edited 1 time(s). Last edit at 12/18/2019 07:25AM by NewtonMP2100.
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: Acer
Date: December 18, 2019 08:42AM
The convenience of three brands I won't buy under one roof! /s
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: macphanatic
Date: December 18, 2019 09:42AM
Quote
Acer
The convenience of three brands I won't buy under one roof! /s

+1

How long until the Ram Truck and Jeep brands are sold off? They're the only brands in that combined group that have any brand value.
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: Bernie
Date: December 18, 2019 11:34AM
Peugeot was a great car.




Staunton, Virginia
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: Racer X
Date: December 18, 2019 01:11PM
How about a modern glue-lam Deux Chaveax with hybrid drive?
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: sekker
Date: December 18, 2019 01:30PM
Are any of these players in EVs?

I didn't think so.
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: Buck
Date: December 18, 2019 02:55PM
Quote
Racer X
How about a modern glue-lam Deux Chaveax with hybrid drive?

And better springs and shocks.
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: Thrift Store Scott
Date: December 18, 2019 03:42PM
Quote
Racer X
How about a modern glue-lam Deux Chevaux with hybrid drive?

You must be remembering the same Chrysler (Plymouth?) concept car that I am: Mid-90s or so, inspired by the 2CV, plastic body, dull pale blue in color, weird straps instead of cranks to raise and lower the windows?

Found it! Plymouth CCV-



[www.allpar.com]

Quote
Buck
And better springs and shocks.

I assume by "better" you mean stiffer? The Citroen 2CV was designed when France's roads were often little more than muddy tracks and with the goal of being able to transport a case of eggs across a rutted field without breaking any of them, so it has a brilliantly sophisticated yet simple suspension that is very soft and incorporates very long travel. In many ways the 2CV was intended to fulfill all roles for all people, being used as a pickup truck today and a family sedan tomorrow, and in that respect it could be considered the very first SUV. The 2CV gets no respect because it isn't fast or beautiful and people tend to ignore the breathtakingly clever and innovative engineering that went into it.



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Edited 1 time(s). Last edit at 12/18/2019 06:12PM by Thrift Store Scott.
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: MrNoBody
Date: December 18, 2019 04:04PM
Quote
Bernie
Peugeot was a great car.

So was the Tucker 48
Seventy years ago old fogey smiley

Quote
macphanatic
How long until the Ram Truck and Jeep brands are sold off? They're the only brands in that combined group that have any brand value.

I'm thinking the same thing. MB or VW might have an interest and the $$ to do it.
Mahindra would definitely like to own Jeep too!
gawd help us all if Ram or Jeep got absorbed into GM!



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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: Ombligo
Date: December 18, 2019 04:06PM
With those three brands all together at dealerships, the service department will have to have padded walls for the mechanics.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

"WE CALL BS!" -- Emma Gonzalez
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Re: two become one?!....Fiat Chrysler, Peugeot agree to $50 billion merger.....
Posted by: Racer X
Date: December 18, 2019 05:00PM
and suicide counselors.
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