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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Family-friendly three-row SUVs

Three of our favorite three-row SUVs for 2022

The Grand Cherokee L is available with two different powertrain choices.

Jeep

There are more three-row SUVs on sale than ever before, so it can be tough to make a choice between them. You need to balance space, performance, safety, and tech to make your decision, and doing your homework is important. To help you get started down the right path, we've selected three of our favorite three-row family haulers. These are SUVs that bring the latest features and excellent design features to help keep you and your family rolling. Let's get started.

2023 Toyota SequoiaThe Sequoia is all-new for the 2023 model year, and finally stands on level ground with its rivals.Toyota

Toyota Sequoia

Toyota gave the Sequoia a much-needed overhaul for the 2023 model year that brought it up to speed with its competitors. The thirsty V8 and outdated styling are gone, and in their place, Toyota installed a twin-turbo V6 with a hybrid system that produces 437 horsepower and 583 pound-feet of torque. A ten-speed automatic transmission and either rear- or four-wheel drive are available.

The Sequoia’s update brought a new infotainment system with a much more intuitive, fluid interface. It runs on a standard 8-inch or an optional 14-inch touchscreen. Toyota’s new software offers voice controls, standard wireless Apple CarPlay and Android Auto, and much more.

Inside, the Sequioa’s interior feels much more upscale and modern than before, and there’s plenty of room for the entire family and all their gear across its three spacious rows. Starting with the Limited trim, Toyota gives luxurious standard features, including heated and ventilated front seats, a larger touchscreen, a hands-free liftgate, and a heated steering wheel.

2023 Kia TellurideKia updated the ultra-popular Telluride for 2023 with refreshed styling and features.Kia

Kia Telluride

The Kia Telluride is easily one of the best family vehicles from the last ten years, and it offers great value on top of its functional characteristics. Kia updated the SUV for 2022 with a new 10.25-inch infotainment system and a highway driving assistance system.

The Telluride comes with a 3.8-liter V6 that produces 291 horsepower and 262 pound-feet of torque. It’s paired with an eight-speed automatic transmission and either front- or all-wheel drive. The SUV’s engine may not be the most powerful or thrilling, but it gets the job done and offers refined, smooth operation.

Kia equips the base Telluride with seating for eight, but the optional second-row captain’s chairs reduce capacity to seven. Interior fit and finish, materials, and styling are all far more upscale than the Telluride’s price tag would suggest, making the SUV an excellent family companion for longer road trips.

2022 Jeep Grand Cherokee LThe Grand Cherokee got a third row for the first time with the new L.Jeep

Jeep Grand Cherokee L

Jeep completely overhauled the Grand Cherokee for 2021 and added a new three-row “L” model shortly after. The new Grand Cherokee L features boxy, muscular styling that works with its stretched profile. Even with a new shape, the SUV is immediately recognizable as a Grand Cherokee.

Jeep offers two engines in the 2022 Grand Cherokee L. The base mill is a 3.6-liter V6 that makes 293 horsepower and 260 pound-feet of torque. A 5.7-liter Hemi V8 is available that produces 357 horsepower and 390 pound-feet of torque. Both come with an eight-speed automatic transmission and the V8 comes standard with four-wheel drive.

The L is more premium inside than most likely expect from a Jeep, but at the top end of the model line it’s deep into luxury territory, both on price and design. The Jeep is just shy of its competitors on interior space, but there’s still plenty of room for up to seven people. Top trims get luxury finishes like leather and woodgrain, and available tech like a rear-seat entertainment system helps keep everyone happy for the long haul.

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Performance luxury SUV

The Cadillac Escalade-V starts at almost $150,000

The Escalade-V gets a $149,990 starting price

Cadillac

Cadillac teased an ultra-powerful Escalade-V a while back, and now we have all the details. The 2023 SUV will feature a supercharged 6.2-liter V8, plenty of luxury, and a stout six-figure price tag.

The 2023 Escalade-V comes with a supercharged 6.2-liter V8 that makes 682 horsepower and 653 pound-feet of torque. It features a hand-built design and shares much of its underlying engineering with the CT5-V Blackwing. It's paired with a ten-speed automatic transmission and full-time active four-wheel drive.

2023 Cadillac Escalade-VUnder the hood, there's a supercharged 6.2-liter V8.Cadillac

Cadillac gives every Escalade-V air ride adaptive suspension and magnetic ride control. The driver can customize the suspension and feel using the SUV's selectable driving modes. The system can also raise or lower the ride height by to .8 inches, and the SUV comes with a launch control system that helps it get off the line with explosive speed.

Inside, the Escalade-V builds on the top trim of the standard SUV with zebra wood accents, massaging front seats, and a heated steering wheel. It's got the same amazing tech, too, with a curved OLED display that runs the length of the dash, navigation, voice commands, wireless Apple Carplay and Android Auto, an augmented reality navigation system, and a 36-speaker AKG Studio stereo. Cadillac Super Cruise is available.

2023 Cadillac Escalade-VAn extended ESV variant is also available. Cadillac

The 2023 Cadillac Escalade-V goes on sale this summer. Starting pricing lands at $149,990, and Cadillac offers an extended-wheelbase ESV version of the high-performance SUV.

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