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Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

Marchionne says no offers are on the table for Fiat Chrysler

MONZA, Italy (Reuters) - Fiat Chrysler (FCA) has not received any offer for the company nor is the world's seventh-largest carmaker working on any "big deal", Chief Executive Sergio Marchionne said on Saturday. Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company's business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: "No." The company's share price jumped to record highs last month after reports of interest for the group or some of its brands from China. China's Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker. The stock move was also helped by expectations that the company might separate from some of its units. Marchionne reiterated on Saturday that FCA was working on a plan to "purify" its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. "There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things," he told journalists. Asked whether an announcement could come this year, Marchionne said it was up to the board to decide and that it would next meet at the end of September. He said the time was not right for a spin-off of luxury brand Maserati and premium Alfa Romeo and the two brands needed to become self-sustainable entities first and "have the muscle to stand on their feet, make sufficient cash". "The way we see it now, it's almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase," he said. "It's the wrong moment, we are not in a condition to do it." He said the concept of separating the two brands from FCA's mass market business made sense and did not rule out this happening in future, but not under his tenure, which lasts until April 2019. "If there is an opportunity in future, it would certainly happen after I'm gone. It won't happen while Marchionne is around," he said.

Dodge recalls 27k Darts for bracket that can disrupt transmission module

Dodge is recalling 27,520 examples of the 2013-2015 Dart with dual-clutch gearboxes. The mounting bracket for the transmission control module can affect the part's operation and cause the compacts to suddenly shift into neutral. According to the automaker, 23,688 of them are in the US, 3,376 in Canada, 5 in Mexico, and 451 elsewhere. The National Highway Traffic Safety Administration reports these examples carry build dates between February 24, 2012, and June 16, 2015. There are also no reports of accidents or injuries. Because of the way the bracket is mounted, the part can put too much force on the control module's circuit board and cause it to shift out of gear. The engine and airbags remain operable if this happens. To fix things, dealers will install a redesigned mount and replacement module. Related Video: Statement: Mounting Bracket September 14, 2015 , Auburn Hills, Mich. - FCA US LLC is recalling an estimated 23,688 cars in the U.S. to replace certain control modules and mounting brackets that may contribute to a loss of motive power. The Company is unaware of any related injuries or accidents. An FCA US investigation prompted by a small number of warranty claims discovered a control-module mounting bracket may apply too much force and disrupt the function of a circuit board within the module. This condition, unique to certain cars equipped with dual dry-clutch transmissions (DDCT), may cause the transmission to shift into neutral. However, the engine remains on and the vehicle's air-bags, as well as other safety features, are unaffected. The condition may also be preceded by the illumination of a dashboard warning light. Customers who observe this are urged to contact their dealers. The campaign is limited to certain 2013-2015 Dodge Darts equipped with DDCTs. Additional vehicles will be recalled in Canada (3,376), Mexico (five) and outside the NAFTA region (451). Affected customers will be advised when they may schedule service, which will be performed free of charge. Service will entail installation of a redesigned mounting bracket and replacement of the control module. Customers with additional questions may call the FCA US Customer Information Center at 1-800-853-1403.