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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.

Alfa Romeo to develop a large car in the United States

MILAN — Itay's Alfa Romeo will work on a new large car in the United States to be launched in 2027, the brand's head Jean-Philippe Imparato said on Friday, adding however the group had not yet decided where to manufacture it. Imparato said the step was key to tailoring the design for overseas markets, helping Alfa Romeo to strengthen its position as an international premium brand of carmaker Stellantis. "Our offer for a large size vehicle must fit international markets, American, Chinese, European," he said during a media call, a day after parent Stellantis released first half results. Alfa Romeo is still assessing whether the new model will be an SUV or crossover bigger though it already has Stelvio with Tonale on the way, or a sedan bigger than Giulia, but it will probably not be an SUV as large as BMW's X5 or X6, Imparato said. He told Automotive News that the vehicle could be a mix of the two vehicle types, perhaps not unlike the new Toyota Crown. "We want to find the right mix," he said. "It's a decision we will take by the end of this year." Imparato said developing the car in the U.S. did not mean it would be produced in North America. "Producing in the U.S. is not something we have decided and it is something we don't want to decide now," he added. Alfa's two production sites are in Italy.  

2024 Alfa Romeo Tonale starts just under $45,000

The 2024 Alfa Romeo Tonale will be hitting dealers very soon, so Alfa has opened up the order books and announced pricing for the plug-in hybrid SUV. The base Sprint model will start at $44,590 including destination charge. That's a good bit more than some competitors such as the BMW X1 and Mercedes-Benz GLA-Class, but they're less powerful, don't come standard with all-wheel-drive, and aren't plug-in hybrids at those entry prices. When those are equipped with similar power and all-wheel-drive, the Alfa ends up being priced very close to its rivals. Full standard features weren't given for each trim level, but we know that the Tonale gets the turbo 1.3-liter four-cylinder hybrid powertrain making 285 horsepower and 350 pound-feet of torque. It has an electric range of around 30 miles and standard all-wheel drive. A 10.25-inch touchscreen and 12.3-inch instrument cluster are also included along with wireless Apple CarPlay and Android Auto. Despite a lack of detailed features for each trim, base prices for each have been released, and they're listed below. Sprint: $44,590 Ti: $46,590 Veloce: $49,090 Alfa Romeo is taking pre-orders for the Tonale right now, but only for the higher Ti and Veloce trim levels. Orders for the base Sprint will open up later this quarter. Alfa also expects that the Tonale will qualify for a $7,500 tax credit when leasing, due to a loophole for vehicles under lease. But be sure to double-check all those details before finalizing a purchase.