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China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.

1.8 million Ram trucks recalled to fix shifter problem

Fiat Chrysler is recalling 1.8 million mostly heavy-duty Ram pickups to fix a part that could allow the truck to shift out of park and roll without depressing the brake pedal, a problem the automaker knows to be potentially related to seven injuries and a "small number" of accidents. The company says tests revealed that the interlock, which is supposed to keep the transmission from shifting out of park without the driver's foot on the brake and without a key in the ignition, may malfunction if subjected to high temperatures for long periods. The recall is limited to vehicles equipped with shifters mounted on the steering columns; those with rotary-dial shifters or floor-mounted shifters aren't affected, and model-year 2017 trucks built after Dec. 31, 2016, are excluded. Trucks covered by the recall are certain 2010-2017 Ram 2500 and 3500 pickups; 2011-2017 Ram 3500, 4500 and 5500 chassis cabs; and 2016 and 2017 Ram 3500 chassis cabs of less than 10,000 pounds gross vehicle weight. Certain 2009 through 2017 Ram 1500 pickups are also included in the recall. Most of the affected trucks are in the U.S., with the rest in Canada and Mexico, plus about 15,000 outside of the North American Free Trade zone. FCA recommends that customers always use parking brakes and not leave children unattended in parked cars.Related Video: Featured Gallery Mojave Road in a 2017 Ram 2500 Power Wagon View 31 Photos Recalls RAM Truck ram 5500 ram 4500

Ram providing horsepower for 142nd Kentucky Derby

More than 120,000 people will descend on Louisville, KY for the 142nd Kentucky Derby this weekend. Seersucker, bowties, and very large, obnoxious hats will be the most common attire among those in attendance, all of whom will have an unquenchable thirst for mint juleps. Ram wants to capture their attention. The truckmaker has announced a new "multi-tier sponsorship" of Churchill Downs and the Kentucky Derby, and will serve as a major advertiser during Saturday's race. The company will air two 30-second advertisements during NBC's broadcast. The first, titled "Truck People – Derby" is up top, while Ram is saving the second, "Never Settle," for race day. Beyond the ads, racegoers will be treated to on-site displays around the track, which is perhaps the best evidence of a truck's toughness – if the official truck of the Kentucky Derby can survive its notoriously "decadent and depraved" infield, it can probably handle towing a boat or hauling topsoil. The three trucks, a Rebel, a 1500 Limited, and a dual-axle 3500 Limited will even be decked out in jockey-like styles. To help build up to its Derby involvement, Ram has released a first-person point-of-view video, just in case you've ever wondered what kind of view the jockeys have as they lap the one-mile dirt track. You can see that video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.