Merger News

PSA, FCA agree to $47 billion merger, create 4th largest automaker

Chairman of the Managing Board of Groupe PSA Carlos Tavares (left) and FCA CEO Mike Manley (right) share a congratulatory handshake after signing the historic combination agreement

Photo courtesy of Fiat Chrysler Automobiles N.V.

On Halloween, news broke that PSA and FCA had agreed in principle to merge. Now the merger is official with both parties having signed a binding merger agreement in a deal worth approximately $47 billion.

The merger creates the fourth largest global original equipment manufacturer by volume and the third largest by revenue. Using 2018 tallies, the two companies accounted for a combined 8.7 million vehicle sales.

This deal allows flexibility of production and future technologies development that both parties were seeking. PSA had previously made it known that it was looking to expand into the Americas, an area where FCA excels in production and sales. FCA has widely been reported as falling behind other automakers in its development and implementation of battery, autonomous, and safety technology.

Click here to see the brands caught up in the merger.

A news release issued by the companies indicated that there are no plans to close any factories and that the company expects to be cash flow positive from the get-go.

The release also touted the company's plans to deliver "higher customer satisfaction." The 2018 American Customer Satisfaction Index, which surveys car owners on their overall service and product experience with specific auto brands, found that Ram was FCA's most satisfying brand for customers, with a 14th place ranking. Jeep came in at 18th, and Fiat at 25th, while Dodge and Chrysler were at the bottom placing 27th and 28th, respectively.

The new company's board will consist of 11 members. PSA's Carlos Tavares will be the company's CEO and a member of the board while FCA's John Elkann will be chairman of the board. No announcement has been made as to the role of Mike Manley, who has been leading FCA following CEO Sergio Marchionne's sudden death in July 2018, though FCA confirms that Manley will still have a role in the company.

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The Nissan Rogue Sport is a good SUV, and it should be heavily discounted this Black Friday.

Photo courtesy of Nissan North America

Black Friday is right around the corner. The CDC is advising you against spending time with your family this year, so there's plenty of time to cruise the car dealer lot and take advantage of a socially distanced car buying experience.

If you're looking for a used vehicle, Black Friday might be the perfect day to buy. iSeeCars analysis has found that there are 2.7 percent more deals on Black Friday than during traditional shopping days.

The 30 best used car, truck, SUV, and minivan deals for Black Friday 2020 are below. The results are from a survey of 1.8 million used cars currently listed for sale.

No. 30 - Ford Explorer (5.2% savings)

2020 Ford Explorer Photo courtesy of Ford Motor Company

Ford redesigned the Explorer for the 2020 model year making it stronger, more capable, and more fuel efficient than before. It comes with a number of engine options, including the Explorer Hybrid model. The Explorer is roomy and easy to maneuver, but its infotainment system isn't as easy to use as other vehicles in its class. Last-generation Explorers are nearly as good as the fresh model.

No. 29 - Honda Civic (5.2% savings)

2018 Honda Civic Coupe Photo courtesy of American Honda Motor Co., Inc

The Honda Civic remains a popular choice for buyers due to its numerous variations, from a competent daily driver to track-ready speedster. It's one of the few models on this list to come with an available manual transmission and coupe format.

No. 28 - Hyundai Tucson (5.2% savings)

2019 Hyundai Tucson Photo courtesy of Hyundai Motor America

The Hyundai Tucson is the company's top-selling model in the U.S. and it's easy to see why. The Tucson is a bit more upscale than the Santa Fe though it only has two rows of seating. Its good cargo space and easy-to-use tech are also highlights.

No. 27 - Subaru Outback (5.3% savings)

2020 Subaru Outback

Photo courtesy of Subaru of America Inc.

Subaru Outback owners love their Subarus. The new Outback offers a ton of modern technology, but the versions that were just as fundamentally good. A wagon is always a good choice for families, and the standard all-wheel drive on the Outback makes it an even better option.

No. 26 - Ford Escape (5.4% savings)

2018 Ford Escape Photo courtesy of Ford Motor Company

The Ford Escape was completely redesigned for the 2020 model year. It features a cavernous cargo area, spacious seating, and easy low-speed handling. This Escape rides better than the last and its interior has been upgraded. The 2019 and older model Escape also offers a large amount of passenger and cargo space, as well as hardy interior touch points, which makes it great for families with young children.

No. 25 - Toyota Camry (5.4% savings)

2019 Toyota Camry Photo courtesy of Toyota Motor Sales U.S.A. Inc.

The Toyota Camry reigns supreme for American buyers and it's easy to see why. Its looks are (finally) anything but mundane. The Camry's interior is plush and comfortable, and it comes loaded with a hist of standard safety and driver assistance features.

No. 24 - Chevrolet Equinox (5.5% savings)

2019 Chevrolet Equinox

Photo courtesy of Chevrolet

The Chevrolet Equinox is quite a good compact SUV. It competes against some heavy hitters in the industry, but stands as the top-selling non-truck model in Chevy's lineup. It comes with a long list of standard and available safety technology, a good amount of cargo space, and comfortable seats. The Equinox is easy to maneuver.

No. 23 - Chevrolet Traverse (5.6% savings)

2020 Chevrolet Traverse Photo courtesy of Chevrolet

The Chevrolet Traverse is a competent three-row SUV that is favored by many Americans. Chevy has made the vehicle capable, but it's not an off-roader by any stretch of the imagination. The Traverse is available in a number of flashy trim levels though it doesn't have as many available packages as the Colorado or Silverado.

No. 22 - Chevrolet Trax (5.6% savings)

2020 Chevrolet Trax Photo courtesy of Chevrolet

The Chevrolet Trax is a city scooter that easily gets a driver around town. It is easy to maneuver on the road and park, and has an easy-to-use infotainment system. The Chevy isn't big on cargo space, seating, or power.

No. 21 - Nissan Rogue (5.6% savings)

2020 Nissan Rogue

Photo courtesy of Nissan Rogue

The Nissan Rogue is a few years past its prime, but that hasn't stopped it from being a formidable choice for buyers. Nissan has given the compact SUV comfortable seats, a modern-enough infotainment system, and fuel efficiency. It's equally at home in the city on on the highway.

No. 20 - Nissan Rogue Sport (5.7% savings)

2019 Nissan Rogue Sport

Photo courtesy of Nissan North America

Known as the Qashqai elsewhere, the Nissan Rogue Sport takes the best parts of the Rogue and moves them into a smaller package. The model most varies from its big brother when it comes to second-row legroom and rear cargo space. It's also less powerful.

No. 19 - Acura RDX (5.7% savings)

2019 Acura RDX Photo courtesy of Acura

With its agile handling, plush and premium interior, and aggressive looks, the Acura RDX is a top-seller in its class. The fuel-efficient family car is loaded with approachable technology and the current generation comes standard with Android Auto and Apple CarPlay.

No. 18 - Subaru Crosstrek (5.8% savings)

2020 Subaru Crosstrek Hybrid Photo courtesy of Subaru of America Inc.

The Crosstrek isn't the most powerful model in Subaru's lineup, nor is it the most modern. It is a formidable subcompact that hits the nail on the head for many practical shoppers. With standard all-wheel drive, engaging handling, and gobs of cargo space, the Crosstrek is worth a test drive.

No. 17 - Nissan Pathfinder (5.8% savings)

2020 Nissan Pathfinder Photo courtesy of Nissan North America

The three-row Nissan Pathfinder is a wallet-friendly SUV with a smooth powertrain, good looks, and comfortable seats. The model is ready for a makeover which means that most of the Pathfinders you'll see on used car dealer lots today will be like the ones on new car dealer lots.

No. 16 - Volkswagen Tiguan (5.8% savings)

2020 Volkswagen Tiguan Volkswagen Photo courtesy of Volkswagen AG

The Volkswagen Tiguan spearheaded the company's resurgence in the U.S. market as it moved from slow-selling cars to faster-selling SUVs and tried to put Dieselgate in the rearview mirror. The Tiguan is a favorite of buyers for many of the same reasons the Pathfinder is. Unlike the Pathfinder, buyers can get the Tiguan in either a two- or three-row format.

No. 15 - Subaru Forester (5.9% savings)

2020 Subaru Forester Photo courtesy of Subaru of America Inc.

Practical adventurers love the Subaru Forester for its on- and off-road prowess, engaging drive dynamics, and massive cargo space. The fact that it's one of the safest vehicles sold today doesn't hurt either. New for 2020, buyers get standard rear seat reminder and lane centering technology, which first appeared in the 2020 Outback, is available.

No. 14 - Dodge Journey (6.1% savings)

2020 Dodge Journey

Photo courtesy of FCA US LLC

Dodge no longer makes the Journey, but for years it was a favorite for family travel. The models were frequently loaned out a rental car establishments. When it was new, the Journey was perhaps best known for being a cost-effective three-row SUV.

No. 13 - GMC Sierra 1500 (6.2% savings)

2020 GMC Sierra 1500 AT4 Photo courtesy of GMC

Reviewers generally agree that the GMC Sierra has a great exterior but that its interior is lacking the refinement expected at its price point. Still, it's an incredibly capable truck. The Sierra 1500 AT4 matches off-road prowess with on-road comfort and towing/hauling capability while the Denali is the company's top-tier model.

No. 12 (tie) - Nissan Murano (6.3% savings)

Midsize SUV: Nissan Murano Photo courtesy of Nissan North America

The Nissan Murano is nearing the end of its generational run, which means that it's nearly the same today as it was seven years ago when the model was introduced. That also means that it carries over many of the qualities that made it such a favorite with buyers - a strong powertrain, comfortable seats, and stylish looks.

No. 12 (tie) - Ford Fusion (6.3% savings)

2020 Ford Fusion Photo courtesy of Ford Motor Company

American buyers can't quit the Ford Fusion though they're about to have to. The model's run is up as Ford moves on toward electrified models and plans for the future. That doesn't stop the Fusion from being a good car, complete with comfortable seats and a responsive infotainment system.

No. 10 - Nissan Altima (6.5% savings)

2020 Nissan Altima Photo courtesy of Nissan North America

The Nissan Altima was completely redesigned for the 2019 model year and hasn't changed significantly since. Its looks are edgier and sharper than the previous generation, and it comes loaded with a long list of standard and available tech, making it more appealing to buyers. The Altima is still fuel efficient. Its previous generation was best known for comfortable seats and good fuel economy.

No. 9 - Dodge Grand Caravan (6.6% savings)

2019 Dodge Grand Caravan Photo courtesy of FCA US LLC

Production of the Dodge Grand Caravan has ended, but the people hauler continues to be a favorite among used car buyers who like its seating capacity, road-worthiness, and low price tag. The Chrysler Voyager took the Grand Caravan's place in the company's lineup.

No. 8 - Toyota Corolla (6.7% savings)

\u200b2020 Toyota Corolla Hatchback

Photo courtesy of Toyota Motor Sales U.S.A. Inc.

The Corolla was redesigned for the 2020 model year and is now upgraded to fit nicely into Toyota's modern lineup. It can come loaded to the gills with high-tech features but its less premium models still don't feel like too much of a compromise. The Toyota Corolla Hybrid is about as fuel efficient as the Prius. Models before 2020 were a little less premium and fuel efficient but are still a good buy with high predicted reliability.

No. 7 - Kia Soul (6.8% savings)

Kia Soul Photo courtesy of Kia Motors

Kia completely redesigned the Soul for the 2020 model year giving it ... more soul. Its funky exterior carries over to the interior where buyers can choose to turn the fun up a notch with various packages and high-tech features. The 2020 Kia Soul GT-Line Turbo didn't win many hearts at AutomotiveMap, but the Soul's lower trim levels, powered by the standard non-turbo engine did. Its predecessor was well-equipped and reasonably well-received by critics when it was new.

No. 6 - Toyota Prius (7.0% savings)

2020 Toyota Prius L Eco Photo courtesy of Toyota Motor Sales U.S.A. Inc.

The Toyota Prius family of vehicles represents a fuel-saving line of quirky cars that give eco-conscious shoppers an untraditional option. The Prius and Prius Prime have similar footprints. The Prius Prime is a plug-in electric vehicle whereas the Prius is a hybrid with optimized aerodynamics. Some models are equipped with all-wheel drive.

No. 5 - Nissan Sentra (7.2% savings)

2020 Nissan Sentra Photo courtesy of Nissan North America

The Nissan Sentra has been completely redesigned for the 2020 model year, with its looks falling into line with the Versa and Altima. The new Sentra is a compelling choice with its high-tech features, comfortable seats, and easy-to-use infotainment system.

No. 4 - Kia Forte (7.5% savings)

2020 Kia Forte Photo courtesy of Kia Motors

Kia redesigned the Forte for the 2019 model year. It comes equipped with a long list of standard features, big trunk compared to other vehicles in its class, and spacious seats. It's also fuel efficient. The previous iteration of the car wasn't as nicely equipped, but it made for a decent daily driver.

No. 3 - Toyota Sienna (7.8% savings)

2019 Toyota Sienna

Photo courtesy of Toyota Motor Sales U.S.A. Inc.

The Toyota Sienna wins points with buyers for its spacious passenger compartment and impressive predicted reliability. The Sienna comes equipped with a good number of standard safety technologies and is easy to drive.

No. 2 - Nissan Versa (8.9% savings)

2020 Nissan Versa No. 19 - Nissan Versa (12,176 sold) Photo courtesy of Nissan North America

The smallest car in Nissan's lineup underwent a makeover for the 2020 model year. Before that, it was a fleet special with a relatively low-rent cabin, good fuel economy, and a very basic exterior design. Since then, the Versa has gotten more horsepower, a far nicer interior, and been made stylish.

No. 1 - Chevrolet Bolt EV (10.1% savings)

2020 Chevrolet Bolt EV

Photo courtesy of Chevrolet

The Chevrolet Bolt EV is Chevy's electric car. The fully-electric model charges at your home, office, or on-the-go at charging stations to get the fuel it needs to get you on your way. The Bolt EV isn't particularly comfortable, but it is spacious and feels high-tech because of its EV powertrain and unique interior.

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Lexus has once again placed atop the U.S. News & World Report Best Certified Pre-Owned Program rankings.

Photo courtesy of Lexus

The best certified pre-owned (CPO) programs offer a lengthy warranty, perks, and dependable used vehicles. Lexus offers all those things, helping it earn the U.S. News & World Report award for Best Certified Pre-Owned Program for 2021.

"Lexus has a well-deserved reputation for reliability that makes Lexus models appealing CPO cars," says Page Deaton. "On top of that record of dependability, Lexus offers used car buyers an excellent CPO warranty, as well as a long list of CPO program benefits, like free maintenance visits and a free loaner car."

2021 Lexus LS The Lexus LS is getting a revision for the 2021 model year. Photo courtesy of Lexus

As part of the Lexus CPO program, used car buyers get up to two years of warranty coverage, with no mileage limit nor deductible. They also include complementary roadside assistance, a loaner car, and four factory maintenance service visits in the first two years or 20,000 miles of ownership.

Lexus offers a full lineup of vehicles including the IS, ES, GS, LC, and LS cars and UX, NX, RX, GX, and LX SUVs. Lexus recently introduced the 2021 Lexus IS. The Lexus LS full-size flagship sedan is getting a makeover for the 2021 model year. The automaker also brought the new 2021 Lexus LC Convertible to market this year. Other revisions to the Lexus lineup are expected to be announced soon.

In addition to its Best Certified Pre-Owned Program award, U.S. News & World Report evaluates the Best Vehicle Brands, Best New and Used Cars for Teens, and Best New Cars for Families. This year Lexus did not place in the Best New and Used Cars for Teens rankings, but their mass market sister brand Toyota had several winners. The same is true for the Best New Cars for Families award winners.

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