MG Gloster SUV teased: MG Gloster SUV listed on website, India launch soon

NEW DELHI: MG Motor on Tuesday teased the Gloster SUV on its official website, which is expected to go on sale after Hector Plus. MG teasing the new SUV makes its India launch imminent, yet a confirmed launch date has not been announced. This would MG’s fourth product in the country and is expected to sit at the top of the company’s model line-up. As per the images, Gloster SUV will carry a bold front facia with a big chrome grille and LED headlamps. There has been no official word…

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groupe psa: Peugeot CEO says merger with Fiat Chrysler on track

PARIS: Peugeot maker PSA‘s boss Carlos Tavares said on Thursday he was confident the merger of the French carmaker and Fiat Chrysler (FCA) would go ahead as planned and yield synergies of at least 3.7 billion euros ($4.2 billion). “The timetable of the merger with FCA is being strictly respected,” Tavares told PSA’s annual shareholders meeting. He added he was confident the deal would be finalised during the first quarter 2021 “at the latest”. Commenting on expected synergies from the deal, he said 3.7 billion euros was a “floor”. Last…

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FCA used car business: FCA India aims to expand used car business

NEW DELHI: Automaker FCA India on Thursday said it is looking to expand its pre-owned car business with plans to have 65 outlets operational by August end. The company currently runs its pre-owned car business — SELECTEDforYOU, from 42 sales outlets. The automaker had introduced a pilot operation of SELECTEDforYOU in Delhi, Mumbai and Hyderabad in 2019 and will now plan to scale it up across the country, FCA India said in a statement. “The Jeep Compass enjoys exceptional residual value in the Indian automobile market, and that is a…

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Fiat Chrysler makes $6.8 billion Italy-backed loan request

SOAVE: Fiat Chrysler Automobiles has confirmed a request for an Italian state-backed loan to help the automotive sector relaunch from the coronavirus shutdown, a move that set off debate in Italy over whether such money should be made available to companies with legal headquarters overseas. FCA said in a statement late Saturday that it was seeking 6.3 billion euros ($6.8 billion) in financing through Intesa SanPaolo, or one-quarter of its industrial revenue in Italy. The money would be “dedicated exclusively to financing FCA’s activities in Italy and intended to provide…

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Fiat Chrysler Automobiles: Fiat Chrysler plunges to loss, but no change to PSA deal

MILAN: Fiat Chrysler Automobiles (FCA) plunged to a first-quarter loss of $1.8 billion and scrapped its full-year earnings forecast on Tuesday, as the automaker grapples with a coronavirus crisis that has hammered production and sales. The Italian-American company, which has struck a binding merger deal with France’s PSA Group to create the world’s fourth largest carmaker, said it remained committed to the tie-up, despite “unexpected and unprecedented times”. On a conference call, FCA Chief Executive Michael Manley said “the terms of the deal have not changed” and FCA remained “committed…

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Jeep-Compass: FCA India commences bookings for Jeep through digital platform

NEW DELHI: Fiat Chrysler Automobiles (FCA) India on Saturday started of its online ‘touch-free’ Jeep retail experience in response to continued movement restrictions and social distancing due to the coronavirus pandemic. Prospective customers can book and own a Jeep online without having to physically visit a showroom, and will enjoy the convenience of a test drive and sanitized vehicle delivery at their doorstep, the company said in a statement. Customers need to submit details such as their contact information, geographical location, choice of vehicle variant, colour, powertrain and transmission. After…

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