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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Ram heavy-duty trucks look more conservative than new Ram 1500

We've had a pretty good peek at the 2019 Ram 1500 thanks to spy shots and renderings. (UPDATED January 2018: Here's the full reveal from the Detroit Auto Show.) And from what we've seen of it, it's a major departure from Rams of the past. We haven't seen as much of the Ram heavy-duty line, but these spy shots caught one out on the town, and it appears the Ram 2500 and 3500 will have a less controversial design. The big-rig tall grille is still the truck's focal point, but the design is a familiar one, featuring the same look featured on the current Ram's luxurious range-topping trims like the Ram Laramie Longhorn. We'll have to wait to see if the new heavy-duty trucks will continue to use this grille solely for range-topping trims and if the 1500's new look will venture up to its big brothers, and therefore banish the crosshairs for good. Regardless of the grille design, the headlights still sit fairly low next to it. That emphasizes the semi-truck design since the tops of the fenders are lower than the top of the hood, which cascades to meet said fenders. The headlights also look potentially carry-over. Really, there are so many similarities it leads us to believe the new heavy duty might be more of a refresh than a completely new design. Another interesting thing to note is that this Ram appears to use a similar drivetrain and suspension to the current heavy-duty trucks. Like the vast majority of trucks, it has a solid rear axle, but probably with coil springs as Ram currently does. Up front, though, it seems the solid front axle has also been retained. This should be good news for fans of the off-road-ready Power Wagon. We're probably still a ways away from seeing the heavy-duty Rams. Last year, we learned a rumor that the heavy-duty trucks were delayed for an unspecified amount of time. We wouldn't expect to see anything official about the truck until at least 2019, about a year after we expect to see the 2019 Ram 1500 revealed. Related Video: Featured Gallery Ram Heavy Duty spy shots View 16 Photos Image Credit: KGP Photography Spy Photos RAM Truck

Ram issues recall on heavy-duty pickup transfer cases

UPDATE: A previous version of this story said the issue only occurred in four-wheel drive. This is incorrect – issues are only exhibited in two-wheel drive. The Basics: Ram is recalling 930 3500, 4500, and 5500 heavy-duty pickups from model year 2016. The affected 3500s were built between July 24, 2015 and January 7, 2016, while the larger 4500/5500 trucks were screwed together between July 24, 2015 and October 8, 2015. The Problem: According to the official NHTSA bulletin, the "transfer case may have been manufactured with a misshapen main output shaft, creating voids that may cause a shaft fracture." If this happens, the vehicle could lose power. The driver might not be able to select park, either. Injuries/Deaths: FCA isn't aware of any injuries or deaths related to the issue. The Fix: Dealerships will replace the transfer case on affected trucks. If you own one: You probably don't. According to FCA spokesman Eric Mayne, dealers haven't delivered the majority of the affected trucks to customers. But if you really do own one, Mayne added that the issue only occurs in two-wheel drive. We'd advise keeping it in four-wheel drive until you can report to your local dealer. FCA kicked the recall off on August 10, so expect a mailed notification soon. Related Video: