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China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.

Junkyard Gem: 1992 Chrysler Imperial Landau

The Chrysler Imperial (sold as a separate marque and called, simply, the Imperial for the 1955-83 model years) was at the top of the Chrysler pyramid for many decades. For most of that time, it was a great big opulent statuswagon, slathered with chrome and powered by some of the most potent engines in the Chrysler inventory. For the early 1990s, however, the Imperial became a member of the many-branched K-Car family tree. Here's a solid-looking '92, now in its final parking spot in a Denver self-service wrecking yard. The 1990-92 Imperial wasn't a bad car, but it also wasn't much like the Imperials of past decades. Under the hood, the Chrysler 3.8-liter pushrod V6, which went on to a distinguished three-decades-long career in Chrysler minivans and Jeep Wranglers. It made a not-too-shabby-for-the-time 150 horsepower in 1992. The padded vinyl landau roof was looking extremely dated by the 1990s, but some Imperial buyers still went for this option. The 1992 Imperial had leather upholstery, but opinions differ as to whether Chrysler still referred to it as Soft Corinthian Leather by this time. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Better than Mercedes-Benz, Audi, Rolls-Royce, and Jaguar, according to this ad. The base price of the '92 Imperial was $26,705 (about 46 grand in inflation-adjusted 2016 dollars). A new 1992 BMW 525i listed at $35,600, while a 1992 Lexus ES300 was $25,250. The $23,500 Mazda 929, with rear-wheel-drive and 190 horses, seems like the steal of 1992 for luxury-car shoppers. Related Video: Featured Gallery Junked 1992 Chrysler Imperial View 19 Photos Auto News Chrysler chrysler imperial

Jeep Begins Fixing 1.56 Million Recalled Grand Cherokee, Liberty SUVs

Chrysler is just now beginning the big job of fixing 1.56 million older Jeep SUVs seven months after a recall was announced, according to The Detroit News. Jeep Grand Cherokees sold between 1992 and 1998 and Jeep Liberty models sold between 2002 and 2007 are being recalled because the gas tank can leak in the event of a rear-end collision, leading to a fire. The National Highway Traffic Safety Administration originally requested the recall of 2.7 million vehicles. Chrysler initially disputed NHTSA's findings and seemed willing to go through a court battle until an 11th-hour deal reduced the number of vehicles involved in the recall. The remaining vehicle owners left out of the recall will receive a "customer service action" notification and may not get fixed. Chrysler says the vehicles are safe and need no repairs. Fixing the 1.56 million Jeeps will cost Chrysler $151 million. NHTSA cited 51 deaths causes by such tank fires. Chrysler plans to install protective trailer hitches to protect the gas tanks, but even the automaker admits the hitches will only provide incremental protection in a low-to-moderate speed rear-end crash. Related Gallery 2014 Jeep Cherokee Test Drive View 9 Photos Recalls Chrysler Jeep jeep liberty