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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New compact luxury SUV

2022 Lexus NX gets new tech and PHEV drivetrain

The NX is all-new for 2022.

Lexus

The NX may not be Lexus' most popular SUV – that title goes to the RX – but it's got a lot to offer in a compact package. Lexus redesigned the NX for 2022, and the big stories are its new PHEV powertrain, updated tech, and improved safety features.

The 2022 NX 450h+ is Lexus' first plug-in hybrid vehicle. It's expected to deliver 36 miles all-electric range, 84 MPGe combined, a 0-60 mph time of six seconds. It's joined in the NX lineup by the NX 350h hybrid, which uses a 2.5-liter four-cylinder engine with two high-torque motor-generators that produce a combined output of 239 horsepower. The NX 350h is capable of returning 39 mpg combined and a 0-60 mph time of 7.2 seconds.

2022 Lexus NX New tech and updated safety features are headline changes for 2022.Lexus

A turbocharged gas engine rounds out the NX powertrain selection. It's a 2.4-liter unit that makes 203 horsepower and 184 horsepower. Surprisingly, it's weaker than both of the hybrid powertrains, and is only capable of a 0-60 mph time of 8.2 seconds with front-wheel drive. Fuel economy lands at 28 mpg combined.

The new NX comes standard with a 9.8-inch touchscreen that employs a new Lexus interface to make interactions smoother and easier. A 14-inch touchscreen is optional, and includes a three-year trial for a bundle of connected services. Lexus offers a new connected smartphone feature that allows drivers to store their vehicle profiles in the cloud and take them to other Lexus vehicles equipped with the tech.

2022 Lexus NX The NX gets a PHEV powertrain option for the first time.Lexus

The Lexus Interface also offers advanced voice controls and a new voice assistant feature. The automaker says that it was designed to recognize natural speech, and uses two microphones with noise cancellation, seat detection, and speaker location capabilities. Drivers can ask for the weather, traffic situations, control the audio system, and more with their voice.

The NX's safety features got a boost for 2022 as well. Standard features now include risk avoidance emergency steer assist, left-turn oncoming vehicle detection and braking, right/left turn oncoming pedestrian detection and braking, and dynamic radar cruise control with curve speed management.

2022 Lexus NX F Sport models get sporty interior finishes.Lexus

The 2022 Lexus NX should begin arriving on dealers' lots in December 2021. Pricing for the NX 250 FWD starts at $39,025, which includes a $1,075 destination fee. The range-topping NX 450h+ starts at $56,635.

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The new Tiguan sports an all-new front-end design.

Volkswagen

The Volkswagen Tiguan is an interesting compact SUV with a fun-to-drive personality and plenty of style. After 14 years on sale, the Tiguan is just in its second generation, but VW has given it a significant update for the 2022 model year that brings new tech, updated styling, and a refreshed interior.

2022 Volkswagen Tiguan The rear has been massaged with new badging and standard LED taillights. Volkswagen

The restyled Tiguan is available in four trim levels: S, SE, and SE R-Line Black. All models get a turbocharged 2.0-liter four-cylinder engine that makes 184 horsepower and 221 pound-feet of torque. An eight-speed automatic transmission and front-wheel drive are standard, but VW's 4Motion all-wheel drive can be optioned in.

Styling updates are the big story for the 2022 Tiguan. The front end is entirely new and carries design cues from the larger Atlas and Atlas Cross Sport. LED headlights are now standard, and an illuminated light line is available for the SUV's grille. On the rear liftgate, the Tiguan model name lettering also mirrors that of the Atlas, with the name spelled out underneath the VW logo.

2022 Volkswagen Tiguan Most trims get an 8-inch touchscreen.Volkswagen

Inside, the Tiguan now comes standard with heated seats, while a heated steering wheel and ventilated seats are available. Cloth upholstery is standard, while mid-range trims get leatherette. The top SEL R-Line comes with leather and a perforated leather-wrapped sport steering wheel. Front-wheel drive models come standard with three rows of seating as well, making the Tiguan one of the more family-friendly vehicles in its class.

2022 Volkswagen Tiguan The top trim gets upscale leather upholstery.Volkswagen

The base Tiguan S comes with a 6.5-inch touchscreen running Volkswagen's excellent MIB 2 software, but all others get MIB 3 infotainment software running on a glass-covered 8.0-inch touchscreen. The automaker notes that it's a capacitive touch system, which functions more like a smartphone than other infotainment systems, which sometimes require pressure to register a touch input. All Tiguans get a digital gauge cluster with an 8-inch display, while the top SEL R-Line upgrades to a 10.25-inch configurable gauge cluster that offers full-screen navigation and other views.

Pricing for the 2022 Volkswagen Tiguan starts at $25,995 for the base S trim with front-wheel drive. Adding all-wheel drive pushes the prices to $27,495. All Tiguan models will see a $1,195 destination charge tacked on at the bottom line.

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