Volkswagen, Fiat Chrysler May Reach an Agreement on Mergers Soon
Indications emerged last week at the 2017 Geneva Motor Show that Volkswagen and Fiat Chrysler may consider a merger soon. This became evident as Volkswagen CEO, Matthias Mueller, stated that he looks forward to having merger talks with Fiat Chrysler CEO Sergio Marchionne whenever the latter is ready. Both Volkswagen and Fiat Chrysler are auto rivals, but developments in the industry are forcing great auto companies to partner for consolidation purposes.
Self-driving cars, electric cars, ride-hailing services threatening the industry
Volkswagen is a German automaker and Fiat Chrysler is an Italian-American auto company. Marchionne of Chrysler had always advocated for the auto industry to merge together with the aim of producing greener cars with better technologies. He had often voiced his concerns to the media but many other auto competitors have not taken him seriously, key among these was General Motors which rejected a proposed deal a few months back, USA TODAY reports.
Autonomous self-driving cars, electric vehicles, and ride-hailing service apps are now constituting a kind of threat to the auto industry. Not to mention the fact that several automakers wage a battle of their own; for instance, Fiat Chrysler is not as financially buoyant as the other automakers, and Volkswagen is still staggered by a fraudulent emission war. These among other considerations are making weaker and threatened automakers to consider mergers as the only way out, Fox Business wrote.
Mueller is reconsidering merger talks in a turnaround requirement
Although Mueller had said at the Geneva Motor Show that he is "pretty confident about the future of Volkswagen, with or without Marchionne," he still went ahead to say he would be open to talking mergers with the Chrysler boss if the need ever arose. Mueller had earlier dismissed any prospects for merger talks with Marchionne, but he has since turned around to desire a talk on the matter. According to him, he would be glad to chat with Marchionne, but then "it would be very helpful if Mr. Marchionne were to communicate his considerations to me too, and not just to you [the media]".
Volkswagen is a popular automaker with several brands, and Fiat Chrysler produces Jeep and Ram car brands in the US as well as Dodge, Chrysler, and Fiat. It is debatable that Marchionne may take up the challenge and contact Mueller for merger talks, given that he is saddled with leaving Fiat Chrysler in a better shape before his retirement early 2019. Spokespersons of both companies have not really said much about the proposed merger talks.
Algeria Set To Produce Local Car Models to Cut Import Expenditure
Due to the fact that Algeria is spending more on importing cars than it’s realizing from crude oil, the North African country is set to cut expenditures by producing local car models. Rather than continue to import popular car models, the country is set to start producing them locally to boost national needs. This becomes more crucial since the country is facing dwindling oil revenues which could not be wasted on importing cars in the face of the country’s economic needs.
Chrysler Satisfies Millennials by Rolling Out Concept Portal Brand with Selfie-Taking Capabilities
Considering that millennials are believed to be self-aware and even self-centered, Chrysler has revealed a concept car at the Consumer Electronics Show (CES) 2017 dedicated to them. Chrysler says it studied the wants and habits of millennials over a 20-year period before coming up with the Chrysler Portal, a car brand that potentially has all millennials want in a car. And to be clear, millennials are people born into the existence of the internet – having been born between late 1980s and early 2000s.
Wikileaks' Allegations Against CIA: Should You Be Worried?
A trove of new Wikileaks documents reveal that the CIA is capable of committing “undetectable assassinations” by hacking into the computer systems of autonomous cars. While the CIA has neither confirmed nor debunked the allegations, a number of security experts said they know enough about the CIA to know that the agency could actually murder people by hacking into peoples’ cars. This has raised a number of concerns about the future of autonomous cars and how well they could protect their owners from hackers and malicious programs.
Samsung Set to Challenge Apple and Waymo; Secures Permit to Test Self-Driving Cars
Samsung is all set to foray into the US self-driving car market, after securing permit to test these cars.
Volkswagen Recalls Almost 300,000 Cars Due To Potentially Hazardous Faulty Fuel Pump
Volkswagen is recalling around 300,000 cars due to faulty fuel pumps that can be hazardous.
Fiat Chrysler Recalls More Than 1M Ram Pickup Trucks Over Software Error
The recall is said to apply to 1.02 million truck models from the 2013-2016 Ram 1500 and 2500, and 2014-2016 Ram 3500 lineups in the US. Also recalled are 216,007 pickups in Canada, 21,668 in Mexico, and 21,530 from outside North America.
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