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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.

Autoblog Podcast #360

Episode #360 of the Autoblog podcast is here, and this week, Dan Roth and Jeff Ross discuss the 2015 Ford Mustang, reports of the latest plan to bring Alfa Romeo back to the US, Chevrolet leaving Europe and Holden closing down in Australia, and the price barrier that's holding down potential EV buyers. Dan also interviewed Jacques Brent, Ford's marketing manager for the 2015 Mustang and Sebastian Ruta and Joe Oh from Blipshift. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. You can follow along after the jump with our Q&A. Thanks for listening!
Autoblog Podcast #360:
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Alfa Romeo Stelvio refresh spied sporting the smallest of changes

Alfa Romeo has a refresh coming down the pipeline for the Stelvio crossover soon, and our spy photographer just caught it testing out in the wild. The white Stelvio in partial camouflage seen here isn’t hiding a whole lot, though. From what we can tell, nothing much has changed on the outside compared to the car we can buy now. Swirly wrappings cover both the front bumper and lower rear fascia. Despite us not being able to discern any differences between this one and the 2019 Stelvio, the camouflage could be hiding some minor tweaks. Or perhaps the changes arenÂ’t present in this test car, and itÂ’s being used as a powertrain mule of sorts. There are rumors that Alfa will add some form of electrification to the Stelvio in this lifecycle. Whether thatÂ’s a 48-volt mild-hybrid system or something as involved as a plug-in hybrid, we canÂ’t know for sure yet. The interior does reveal a couple of the smallest changes. Alfa isnÂ’t giving it a whole new look, but a couple things get moved around or reshaped. The electronic parking brake has moved up to an easier-to-reach position next to the shifter. ThereÂ’s some sort of module to the right of the shifter that looks like itÂ’s missing something — that module is not present in the current car. Then, Alfa reshaped the center armrest. Hopefully that means thereÂ’s a little bit more utility in store for the center console and armrest area. Like we said, thereÂ’s nothing revolutionary here. As the Stelvio was introduced as a 2018 model year crossover here, we donÂ’t expect the refresh to be hitting us until the 2021 model year at the earliest. If Alfa feels like moving things along, there could be a reveal for the mid-cycle refresh next year sometime.