January 25, 2021

Tag: Chrysler

automotive

LaFontaine Automotive Group acquires Shuman Chrysler Dodge Jeep Ram in Walled Lake

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LaFontaine Automotive Group has acquired Shuman Chrysler Dodge Jeep Ram in Walled Lake.

Terms of the deal were not disclosed.

Bob Shuman, CEO and 2013 North American International Auto Show chairman, and the remaining family stake is cashed out of the company his grandfather founded in 1955.

Shuman’s 64 employees will remain with the dealership under LaFontaine, which is now called LaFontaine Chrysler Dodge Jeep Ram of Walled Lake, according to a Thursday news release.

However, LaFontaine is moving John Rossi, general sales manager of LaFontaine’s Fenton dealership, to lead the newly acquired Walled Lake store. Joe Zeigler, general manager under Shuman, will remain in some leadership capacity at the dealership, LaFontaine said in an email.

“We look to take that strong, customer-focused foundation and enhance it through our personalized service and ‘Family Deal’ experience we’ve been known for over the last 40 years of business,” Ryan LaFontaine, COO of

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automotive

Foundation Automotive Corp. Announces Asset Purchase Of Chrysler Dealership In North Vancouver

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VANCOUVER, BC, Oct. 1, 2020 /PRNewswire/ – Foundation Automotive Corp., is proud to announce the purchase of the dealership assets of Destination Chrysler Jeep Dodge Ram North Shore, adding a new dealership to their presence in British Columbia.  Effective October 1, the dealership will operate under the name Foundation North Vancouver Chrysler Dodge Jeep Ram.  In this venture, Foundation Automotive will become a part of the North Vancouver automotive market, one of the most dynamic markets in North America.

“High praise to the Destination team for their participation and thank you to everyone at the Foundation team for their relentless support in adding another FCA franchise to the Vancouver area,” says Adam Mounzer, Dealer Partner of Foundation Squamish Chrysler Dodge Jeep Ram.

Owing in part to its strong leadership and an all-star executive management team, Foundation Automotive has an innovative business model that has proven resilient

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automotive

Automotive Giants Fiat Chrysler, PSA To Merge

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By Stuart Burns

Original post

It is not often that the world’s largest carmakers engage in mergers and acquisitions among themselves.

Fiat Chrysler (NYSE:FCAU) and Renault Nissan (OTC:RNSDF) announced a $35-billion plan to merge back in May 2019. The merger would have created the third-biggest carmaker, behind Volkswagen (OTCPK:VWAGY) and Toyota (NYSE:TM).

But within 10 days of the announcement, FCA pulled out and it came to nothing.

Take two: Fiat Chrysler, PSA to merge

Now, still keen for a tie-up, FCA has announced it will merge with the French group PSA (OTCPK:PEUGF).

PSA is the owner of brands like Peugeot, Citroen, Vauxhall, and DS. The deal, valued at $50 billion, would form a 50/50 partnership with a turnover of some €170 billion ($200 billion) a year and annual production of some 8.7 million units.

As such, the deal would put them, again, third. By other measures, they would

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