- The merger between Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (Groupe PSA) has been finalised this week, with the boards of both companies signing a binding ‘Combination Agreement’, forming a 50/50 coalition of their businesses.
In doing so, FCA and PSA have created the 4th largest car company by production volume and 3rd largest by revenue, with annual sales of 7 million units and combined revenues of nearly €170 billion.
The combination of both firms could now provide PSA access to American markets, while FCA can make use of PSA's newer, and electrified vehicle architectures. The scale of the future merged company will also present new opportunities linked to autonomous and connected vehicle projects.
The completion of the merger is now expected to take place within the next 12-15 months, subject to closing conditions, including approval by both companies’ shareholders.
Upon announcement of the merger, Carlos Tavares, the new CEO of FCA/PSA said: “Our merger is a huge opportunity to take a stronger position in the auto industry as we seek to master the transition to a world of clean, safe and sustainable mobility and to provide our customers with world-class products, technology and services. I have every confidence that with their immense talent and their collaborative mindset, our teams will succeed in delivering maximized performance with vigor and enthusiasm.”
- Renault has introduced a 5-year warranty for all its new passenger vehicles registered from Wednesday 18th December and will be extended for all customers who have already a purchased an All-New Renault Clio, regardless of their registration date.
The five-year warranty applies to both retail and fleet customers and features an unlimited mileage limit in the first two years and up to 100,000 miles in the remaining three.
- Hyundai has announced the pricing and specification of the All-New Hyundai i10, the latest generation of the multi award winning city car.
Going into its third Generation, the New i10 is a brand new car from the ground up and will offer a comprehensive upgrade over previous models, featuring a new exterior and interior design, along with upgraded equipment and driving dynamics. The new car has a focus on technology, with segment leading connectivity and safety features, as well as a full 5 seat configuration with others in the segment only offering 4 seat models.
The entry level S specification of the previous model is no longer available; with the range now starting at the increased specification of SE trim (£12,495) and going up to SE Connect (£13,495) and Premium (£14,495) grades. Choices of 67PS and 84PS Petrol engines are available for the i10 range, with a choice of either 5-speed Manual and 5-Speed automatic transmissions.
The All-New Hyundai i10 will go on sale in January 2020.
- Euro NCAP is rounding off the year with the results of ten more vehicles. Five stars were awarded to the Ford Puma, MG ZS EV, MG HS, Nissan Juke, Audi Q8 and the upcoming eighth-generation VW Golf. Euro NCAP say the new Golf has achieved full marks thanks to excellent crashworthiness and standard fit of number of assist systems. The New Golf is also the first ever Volkswagen to make use of V2X connectivity (vehicle to vehicle, vehicle to infrastructure) to enable advance hazard warnings, an important new technology that will be soon be included in Euro NCAP’s rating.
Three stars were handed out the latest iteration of the VW up! and its twins, the SEAT Mii and ŠKODA CITIGO. Automatic Emergency Braking (AEB) was once available as standard when the cars were last tested in 2011, but has since been dropped. Despite some new improvements, this lack of safety equipment as standard has lost the cars two stars compared to their previous ratings.