FIAT AND PEUGEOT TO MERGE

Fiat Chrysler Automobiles (FCA) and PSA Groupe have announced it and it is official. The two companies will be merging in a deal that is said to be 50:50, meaning it is a merger of equals. When it is finalised it will create the fourth biggest automotive group in the world, with sales of about 5.8 million annual units globally. Volkswagen Group is still the biggest, with 10.8 million sales in 2018.

The deal is not finalised yet but when (if) it is, the group’s new chairman will be current FCA chairman John Elkann, while current PSA CEO Carlos Tavares will take up the group CEO position. FCA currently keeps brands like Fiat, Jeep, Alfa Romeo, Dodge, Maserati and Ferrari, while PSA owns Peugeot, Citroen, DS and Opel. For now there is no word on how the South African operations will be affected.

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