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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 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.

Brand new cars are being sold with defective Takata airbags

If you just bought a 2016 Audi TT, 2017 Audi R8, 2016–17 Mitsubishi i-MiEV, or 2016 Volkswagen CC, we have some unsettling news for you. A report provided to a US Senate committee that oversees the US National Highway Traffic Safety Administration (NHTSA) and reported on by Automotive News claims these vehicles were sold with defective Takata airbags. And it gets worse. Toyota and FCA are called out in the report for continuing to build vehicles that will need to be recalled down the line for the same issue. That's not all. The report also states that of the airbags that have been replaced already in the Takata recall campaign, 2.1 million will need to eventually be replaced again. They don't have the drying agent that prevents the degradation of the ammonium nitrate, which can lead to explosions that can destroy the airbag housing and propel metal fragments at occupants. So these airbags are out there already. We're not done yet. There's also a stockpile of about 580,000 airbags waiting to be installed in cars coming in to have their defective airbags replaced. These 580k airbags also don't have the drying agent. They'll need to be replaced down the road, too. A new vehicle with a defective Takata airbag should be safe to drive, but that margin of safety decreases with time. If all this has you spinning around in a frustrated, agitated mess, there's a silver lining that is better than it sounds. So take a breath, run your fingers through your hair, and read on. Our best evidence right now demonstrates that defective Takata airbags – those without the drying agent that prevents humidity from degrading the ammonium nitrate propellant – aren't dangerous yet. It takes a long period of time combined with high humidity for them to reach the point where they can rupture their housing and cause serious injury. It's a matter of years, not days. So a new vehicle with a defective Takata airbag should be safe to drive, but that margin of safety decreases with time – and six years seems to be about as early as the degradation happens in the worst possible scenario. All this is small comfort for the millions of people who just realized their brand-new car has a time bomb installed in the wheel or dashboard, or the owners who waited patiently to have their airbags replaced only to discover that the new airbag is probably defective in the same way (although newer and safer!) as the old one.