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Ferrari-Maserati dealer folds in Las Vegas casino

The ten-year-old Penske Ferrari Maserati dealership located inside the Wynn resort in Las Vegas, where non-Ferrari owners had to pay $10 to walk among the cars, is closed. Word is that the Ferrari franchise is moving to Towbin Motorcars, which you'll know for being the home of the former "King of Cars," and more recently where Floyd "Money" Mayweather has bought 100 cars, including three Bugatti Veyrons. According to Ferrari Chat almost the entire Penske-Wynn staff will make the move, including the highly regarded service department. This being Las Vegas there are, naturally, various theories about why the only Ferrari franchise in the state of Nevada is leaving one of the state's marquee locations. We got a tip a month ago from reader Johnny Autos that Ferrari pulled the franchise, and if there is any truth to that, rumors at Ferrari Chat suggest it part of the reason could have been Steve Wynn flipping his LaFerrari before the 18-month no-sale period had elapsed. Wynn supposedly sold his $1.5 million supercar to Naples Motorsports in Florida for $3.5 million, Naples is asking $5 million for it and using it for the elementary school run in the meantime. On the other hand, Vegas Tripping says Wynn is letting the dealership go in order to get ready for the Alon – another casino – to open across the street in three years. That story believes Wynn will build a pedestrian bridge and rearrange shops on the Wynn side so that customers enjoy the kind of grand entry he would want. And then there's the theory that Penske is getting out of the Ferrari dealership business to focus on commercial trucks. No matter where the truth is in all of this, what matters to you is that you won't be able to spend $10 to check out Ferraris on the strip anymore. Which means more money for the penny slots.

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 recalls 135 GranTurismos over door latches

Maserati issued a recall for faulty door latches on the GranTurismo. Only 135 examples are affected, though the GranTurismo is a low-volume product. The problem with the door latches is that they may not have been properly heat-treated, which means that in the event of a crash, the door could swing open. All of the affected GranTurismos (both coupes and convertibles) are from the 2016 model year and were produced between June 24, 2015, and September 2, 2015. While Maserati's sales figures (thanks largely to the introduction of newer models) continue to climb, the GranTurismo accounts for only a small portion of the company's overall production. Last year the company sold an all-time high of 36,500 units around the world, of which only 3,500 (or less than one tenth) were from the GranTurismo line - which remains the oldest in the Maserati lineup. Since introducing the GranTurismo in 2007, the Modenese automaker has rolled out the Ghibli, replaced the Quattroporte, and is preparing to delve into the SUV market with the forthcoming Levante. A new two-door model is expected to arrive in the form of the Alfieri, which won't replace the GranTurismo, per se, but we wouldn't expect the GranTurismo to stick around for long after the Alfieri comes along. RECALL Subject : Passenger Side Door Latch Not Heat Treated Report Receipt Date: NOV 10, 2015 NHTSA Campaign Number: 15V744000 Component(s): LATCHES/LOCKS/LINKAGES Potential Number of Units Affected: 135 Manufacturer: Maserati North America, Inc. SUMMARY: Maserati North America, Inc. (Maserati) is recalling certain model year 2016 GranTurismo and GranTurismo Convertibles manufactured June 24, 2015, to September 2, 2015. The affected vehicles were built with passenger side door latch components that were not heat treated. CONSEQUENCE: If the door latch was not heat treated, in the event of a crash, the door latch may fail allowing the door to open, increasing the risk of injury. REMEDY: Maserati will notify owners, and dealers will replace the passenger side door latch assembly, free of charge. The recall is expected to begin in November 2015. Owners may contact Maserati customer service at 1-201-816-2600. Maserati's number for this recall is 292. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Related Video: