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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.

Diesel Power finds the ultimate modified oil-burner

For nine years, Diesel Power magazine has run the Diesel Power Challenge, this year's grindfest being "a week-long torture test that features seven events, nine trucks, 8,000 horsepower, and nearly 15,000 pound-feet of torque." The road to being crowned "the most powerful truck" starts with a dyno run, and then continues through the completion of a CDL-style obstacle course, an eighth-of-a-mile drag race while towing a 10,000-pound trailer, a quarter-mile drag race without a trailer, a fuel economy test in the mountains and finally a sled-pulling test through a 300-foot-long packed-mud pit.
What kind of trucks get into such a fight? Last year's winner, for instance - who upgraded his truck this year to prove he didn't "luck into the win" - drives a 2008 Ford F-250 Super Duty with a 6.4-liter Power Stroke V8 upgraded with a custom intake, Elite Diesel triple turbos and a two-stage nitrous system. Another competitor has a 2005 Dodge Ram 2500 powered by a 5.9-liter Cummins inline-six, upgraded with Garrett turbos, dual-stage nitrous, a seven-inch exhaust stack and twin fans built into the bed to cool the Sun Coast Omega transmission. The numbers on that truck: 1,255 horsepower, and 2,063 pound-feet of torque at the wheels. Naturally, as the image above might suggest, things don't always end well.
You'll find all five videos covering this years challenge below. A scene in the dyno video sums it all up perfectly: a competitor leaves his nitrous on too long and the crew is treated to some ominous poppings, he leans out the window, throws both hands up and shouts, "Amer'ca!"

FCA CEO Mike Manley will run Americas for Stellantis after PSA merger

DETROIT — Fiat Chrysler CEO Mike Manley will run operations in the Americas when his company merges with FranceÂ’s PSA Peugeot early next year. FCA Chairman John Elkann announced ManleyÂ’s new post on Friday in a letter to employees. ManleyÂ’s role in the merged company had been a mystery. PSA CEO Carlos Tavares will run the overall company, to be named Stellantis. Shareholders of both companies will vote on the merger Jan. 4 to seal the deal creating the worldÂ’s fourth-largest automaker. The merger is expected to be completed by the end of March. PSA will get six seats on the new companyÂ’s 11-member board, which will be chaired by Elkann. The Americas, especially the U.S., are key to the new companyÂ’s success. Fiat ChryslerÂ’s Jeep and Ram brands are highly profitable, and Tavares has long wanted to sell PSA vehicles in the U.S. Manley has been the Italian-American automakerÂ’s CEO for 2 1/2 years, taking over when Sergio Marchionne died in 2018. Stellantis will have the capacity to produce 8.7 million cars a year, just behind Volkswagen, the Renault-Nissan alliance and Toyota. Related Video: Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot Mike Manley Stellantis