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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.

Official USPS Muscle Cars stamps coming to a mailbox near you

As much as our digital lives have cut down on our trips to the post office, there are still times that sending "snail mail" is necessary. With us car lovers in mind and philately in their hearts, the good folks at the United States Postal Service will introduce a new stamp design called "Muscle Cars" starting on February 22.
Designed by artist Tom Fritz, the new collection of stamps consist of five classic muscle cars: 1969 Dodge Charger Daytona, 1970 Chevrolet Chevelle SS, 1967 Shelby GT-500, 1966 Pontiac GTO and 1970 Plymouth Hemi 'Cuda. In addition to just the stamps, the USPS is also commemorating the new series with plenty of collectable memorabilia. Previous car-related stamps include 50s Sporty Cars from 2005 and 50s Fins and Chrome from 2008.

Chrysler recalling over 280k minivans because airbags may deploy on wrong side

Chrysler has issued a recall for some 2013 Town & Country, Dodge Grand Caravan and Ram C/V Tradesman vans built between May 10, 2012 and June 7, 2013. These vehicles may have a software error that would cause the wrong side (opposite side) airbags to deploy in a crash. With this defect, a left-side impact would cause the right-side airbag to deploy, etc.
The recall affects 281,500 vehicles in total: 224k in the US, 49,300 in Canada, 2,900 in Mexico and 5,300 in other locations. Chrysler will notify owners of effected vehicles, and reflash the offending occupant restraint control module to resolve the issue. Scroll down to read the National Highway Traffic Safety Administration press release.