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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 PHEV due in 2022 expected to be the Hornet

A relatively new saga involving hornets in the Pacific Northwest begins with the adjective "murder" and gets worse from there. A relatively dated saga involving hornets in the automotive industry begins with the name "Dodge" and is — or could be — much friendlier to plant and animal life. Last year, former Dodge parent company Fiat Chrysler trademarked the term "Dodge Hornet" for the first time. Two months ago, an Italian publication credited its sources with news that current parent company Stellantis will create a Dodge version of the Alfa Romeo Tonale (pictured) and call it the Hornet. Now, Mopar Insiders picked up on Stellantis CEO Carlos Tavares sharing a roadmap of the 20 PHEV and battery-electric vehicles coming our way in the next two years between the company's 14 brands. Dodge merits a single PHEV entry in the 2022 column. MI says this will be the Hornet.      As FCA recast its U.S. lineups to give Dodge more focus and give Chrysler a reason to exist, Dodge lost the Caliber, Nitro, and Journey. The way this new report is put, and as we mused a year ago, the coming Hornet will replace the Journey — a space Dodge could do well to return to. Never given much love by the parent company, the Journey turned into a hoary old thing over its 13 years on the market, but sold in remarkable numbers to the end. According to Car Sales Base, sales increased nearly every year for the first nine years of the Journey's life. Even during the sales decline over the last four years of its production life, the Journey found 298,594 homes in the U.S. More than 12,000 zombie units have been moved off lots this year. A Dodge Hornet likely wouldn't offer the Wal-Mart rollback pricing the Journey was known for. Also, the Hornet would pack in just two rows, whereas the Journey offered three. Nevertheless, we're now talking about three vehicles sharing major internal organs; the Alfa Romeo Tonale leans heavily on the Jeep Compass platform and internals, and the Dodge is expected to be built at the same Naples, Italy plant as the Alfa Romeo. The economies of scale are there. As for powertrain, we know there's a Tonale PHEV coming, but it's thought to get its plug-in system from the Jeep Renegade 4xe that's based around the smaller 1.3-liter four-cylinder with either 190 or 240 total horsepower instead of the larger 2.0-liter engine in the Wrangler 4xe.

2023 Alfa Romeo Giulia Estrema bridges the Quadrifoglio gap

Alfa Romeo is expanding the 2023 Giulia range with a model named Estrema that was developed for driving enthusiasts. Also available on the 2023 Stelvio, the Estrema trim level bridges the gap between the Veloce variants of both cars and the high-performance Quadrifoglio. "Estrema" is Italian for "extreme," and in this case it denotes a car that — in Alfa Romeo's words — was designed for "a connoisseur of driving." The list of standard features grows with the addition of a limited-slip rear differential and the adaptive Alfa Active Suspension system for both comfort and performance. These updates may not sound major, but they should make a perceptible difference on the kind of twisty roads that the Estrema models were created for. Car-spotters will be able to pick out the Estrema versions in a crowded parking lot by looking for carbon fiber exterior accents (including the piece of trim that underlines the grille), specific wheels that measure 19 inches on the Giulia and 21 inches on the Stelvio, dark "Estrema" emblems and black brake calipers. Inside, there's more carbon fiber, red contrast stitching and a blend of leather and Alcantara upholstery.  The Estrema models aren't any more estrema under the hood than the versions that they're based on. The only engine available in the United States is a 2.0-liter four-cylinder turbocharged to deliver 280 horsepower and 306 pound-feet of torque. Rear-wheel-drive and an eight-speed automatic transmission come standard on the Giulia, though Alfa Romeo's Q4 all-wheel-drive system is available at an extra cost, and the Stelvio is exclusively offered with all-wheel-drive. With the Q4 system, the Giulia reaches 60 mph from a stop in 5.1 seconds. On sale now, Alfa Romeo's Estrema models are scheduled to reach dealers across the nation in the third quarter of 2022. Buyers have four colors to choose from: Alfa White, Alfa Rosso, Misano Blue, and Vulcano Black. Pricing is set at $56,685 for the rear-wheel-drive Giulia, $58,685 for the all-wheel-drive model, and $60,545 for the Stelvio. Note that these figures include a mandatory $1,595 destination charge. Related Video: