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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.

2018 Alfa Romeo Stelvio Quadrifoglio is the priciest Alfa you can buy

Alfa Romeo has finally announced pricing for its Stelvio Quadrifoglio high-performance crossover, and it's not cheap. The base price is $81,590, which makes it the most expensive car in the Alfa lineup. The next most expensive is the Giulia Quadrifoglio at $75,295. That's a difference of roughly $6,000. And you can make the Stelvio even more expensive by optioning in Sparco carbon fiber shell racing seats or carbon ceramic brakes. Alfa hasn't revealed pricing for those, but expect the brakes to cost the same $8,000 that they do on the Giulia Quadrifoglio. You do get a lot of car for the money, though. The Stelvio Quadrifoglio gets the same twin-turbocharged, Ferrari-built V6 as its Giulia counterpart, still making 505 horsepower and 443 pound-feet of torque. That will take the car to 60 mph from a standstill in 3.9 seconds and on to a top speed of 177 mph. The Stelvio Quadrifoglio is also the current SUV lap time record holder at the Nurburgring. If the price seems acceptable to you, you'll be able to pick one up early this year. Related Video: Featured Gallery 2018 Alfa Romeo Stelvio: LA 2016 View 11 Photos Image Credit: Drew Phillips Alfa Romeo Crossover SUV Performance alfa romeo stelvio quadrifoglio

Vintage Alfa Romeo racer leads double life on Petrolicious

Like many of us Bradley Price wanted to go racing, and he didn't have the space or budget to buy both a track toy and a hauler. However, he came up with a far more elegant solution than crowding his garage with extra equipment. Price picked up an Alfa Romeo Giulietta Spider Veloce and started driving it to events in the Vintage Sports Car Club of America. The latest clip from Petrolicious shows his laid back journey on the road for a day of motorsports at Lime Rock Park. Price's simple approach means he just needs to unpack his stuff at the track, and he can be ready for the afternoon. The VSCCA is also the perfect place for this relaxed attitude. According to Price, the events allow a community of racers to enjoy their classic cars together. He admits that no form of motorsports is cheap, but taking things casually makes the situation a little easier. Petrolicious' cinematography and sound mixing also shine in this new video. The camera is right in the action, and it gives the viewer a great look at how these vintage racers slide around.