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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.

Maserati MC20 Cabrio is a 621-horsepower Italian hair dryer

Winter is officially here, but Maserati is already looking forward to warmer temperatures and more driving-friendly weather. It released the first official photos of the MC20 Cabrio, which is exactly what it sounds like: a convertible version of the recently-launched MC20 coupe. Maserati likes having fun with the camouflage it uses to cover its pre-production prototypes, it notably dedicated an early MC20 test mule to Stirling Moss, and it designed a cloud-themed wrap specifically for the MC20 Cabrio. Unfortunately, whether it features clouds or swirls, the camouflage does an excellent job of hiding key details and the photos ask more questions than they answer. For example, we know that this is a convertible but there's no word yet on whether it will have a power-folding cloth soft top or if it will be fitted with a removable roof panel. Roof aside, the Cabrio looks nearly identical to the coupe, which isn't a bad thing; we think the MC20 is one of the best-looking cars that Maserati has released, and its exterior design will influence other additions to the company's range, including the Grecale crossover. Both the coupe and the convertible are built around the same carbon fiber monocoque, and we're guessing that there won't be major drivetrain differences between the two body styles. Power for the Cabrio will come from a mid-mounted, 3.0-liter V6 that's twin-turbocharged to develop 621 horsepower and 538 pound-feet of torque. Called Nettuno, it spins the rear wheels via an eight-speed automatic transmission. More details about the Maserati MC20 Cabrio will emerge in the coming months. Sales should start for the 2023 model year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ken Block's Gymkhana 8 to feature Dubai Police cars?

Yesterday we showed you the shiny Ford Fiesta that Ken Block will slide, spin, and hoon through the next Gymkhana video. In case the image above isn't clear, that video will drop at midnight EST on February 30th on the Ford Performance YouTube channel. We don't know all the entire premise of the video yet, but this Tweet from the man himself reveals that the video will be set in Dubai. Block is standing on the Fiesta we saw yesterday, and arrayed behind him are a handful of those famous Dubai Police cars you're probably familiar with. The force has a fleet of sportscars and supercars, and the purpose is outreach and goodwill among its citizenry, not necessarily the pursuit of criminals. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. From left to right, we can see a Maserati GranTurismo, Porsche 911, what looks to be a Nissan GT-R obscured by Block's Fiesta, a McLaren (likely a 650S), Ford Mustang, and a Ferrari 599 of some ilk. Will they take part? Maybe Block will try and run from what might be the most horsepower-intensive police fleet in the world. We'll have answers (and a few minutes of pure Block hooniganism) in a few days. Related Video: