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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 goes hatchback-free after axing the Giulietta

Alfa Romeo exited the hatchback segment by ending production of the Giulietta, a Volkswagen Golf-sized model introduced in 2010. It's planning on filling the void in its range with a city-friendly crossover in the coming years. Honored with a heritage-laced nameplate, the Giulietta made its debut in Milan as Alfa Romeo celebrated its 100th birthday. Executives considered selling it in the United States but decided to keep it on the other side of the pond, though its basic platform underpinned the short-lived Dodge Dart. In its home country, the hatchback was positioned as a premium model that reflected the firm's upmarket ambitions. It slotted beneath the Giulia. Stylists made several visual tweaks to the Giulietta during its 10-year life cycle, and they managed to keep it looking relatively fresh. It's a different story inside, where the 2020 model feels about as old as it is. Alfa Romeo's earlier hatchbacks — including the 147 — spawned high-performance variants that still raise eyebrows several decades after their launch, but the Giulietta never received the full go-fast treatment. Over the course of its production run, engine options ranged from a 104-horsepower 1.4-liter turbo four to a 1.8-liter four-cylinder turbocharged to 240 horsepower. Front-wheel-drive was the only configuration offered. Over 400,000 units of the Giulietta were manufactured in Italy between 2010 and 2020. The final example was made shortly before Christmas, according to French website Caradisiac. We don't know what it looks like or where it's off to. Alfa could choose to put it in its collection, or it might send it to an unsuspecting dealer. The news comes a couple of weeks after news that the slow-selling Alfa 4C Spider was among the cars that won't be coming back in 2021. Alfa Romeo Tonale View 9 Photos What's next? Rumors claimed Alfa Romeo would develop a rear-wheel-drive successor to the third-generation Giulietta built on a shortened version of the Giulia's platform. Had it been launched, this model would have undoubtedly become the enthusiast's choice in its segment, especially because the BMW 1 Series went front-wheel-drive. We don't know if the reports were accurate, but what's certain is that a new Alfa Romeo hatchback is not around the corner. Instead, the Giulietta's spot in the range will soon be occupied by the production version of the Tonale concept (pictured above) introduced during the 2019 edition of the Geneva auto show.

Editors' Picks June 2023: BMW 3 Series and more luxury sport sedans

This month sees a number of luxury sport sedans gain Editors' Pick status thanks to updated or recently-all-new models coming out. The BMW 3 Series is a longtime favorite, and so is the Alfa Romeo Giulia at this point. Just like the electric version of the G80, though, the gasoline version is also an Editors' Pick this month. In case you missed our previous Editors' Picks posts, here’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in May that earned an EditorsÂ’ Pick. 2023 BMW 3 Series 2023 BMW 3 Series View 15 Photos Quick take: The 3 Series may not be the standard anymore, but it's still a superb luxury sport sedan with powerful engines, great handling, impressive tech and tons of space. Score: 7.5 What it competes with: Mercedes-Benz C-Class, Audi A4, Alfa Romeo Giulia, Cadillac CT4, Acura TLX, Lexus IS, Infiniti Q50, Genesis G70, Volvo S60 Pros: Enjoyable and powerful engines; fun handling; lots of space in rear seat and cargo area; attractive design inside and out Cons: Infotainment is frustrating to use sometimes; value isn't the best From the editors: Road Test Editor Zac Palmer — "The 3 Series ticks all the boxes that a top-shelf luxury sport sedan should. It's attractive but not gaudy. The driving dynamics leave me grinning at the end of a fun road, but don't beat me up on the highway. Any and all modern tech is present and accounted for. And while the price is high, it's not so bad for what you get. I'm an especially big fan of the M340i with its inline-six, but the four-cylinder in the 330i is an excellent option if you don't want to spend as much." In-depth analysis: 2023 BMW 3 Series gets fresh styling and infotainment   2023 Genesis G80 2022 Genesis G80 Sport Prestige View 61 Photos Quick take: The G80 has looks to kill, and it backs that design up with a functional and also-gorgeous interior. There's a lot of value to be had with this nice-to-drive luxury sedan.