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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.

26k Chrysler 200 models recalled over parking woes

Chrysler is recalling nearly 26,000 of its 2015 200 sedans after customers reported that cars aren't shifting into park. Only vehicles equipped with the 3.6-liter V6 are affected by the recall, which includes both front-drive and all-wheel-drive models (which could represent as much as 20 percent of the recalled vehicles). The roughly 26,000 vehicles were built between March 17, 2014 and September 20, 2014. As for where those vehicles can be found, 22,107 were sold in the United States. The remaining vehicles went to Canada and Mexico, with 3,600 in the former and 213 in the latter. Chrysler is blaming the recall on "inconsistent assembly procedures" at a supplier's factory, and will replace the transmissions of any vehicles affected by the defect. Owners of V6-powered 200s are being told to use their parking brake in addition to shifting into park. Although five incidents have been reported, FCA isn't aware of any injuries or accidents. Scroll down for the brief press release. Statement: Park Engagement February 26, 2015 , Auburn Hills, Mich. - FCA US LLC is launching a recall of certain model-year 2015 cars to resolve manufacturing issues that may prevent the vehicles from shifting into park. Inconsistent assembly procedures at a supplier's plant have been linked to five reports involving customers who could not shift their vehicles into park. Without park, a vehicle may be subject to inadvertent movement. FCA US is unaware of any related injuries or accidents. The campaign is limited to the Chrysler 200 equipped with a V-6 engine. There are an estimated 22,107 in the U.S.; 3,600 in Canada and 213 in Mexico. Customers will be advised when they may schedule service. FCA US dealers will inspect and, if required, replace transmissions at no charge. In the interim, customers who own models with V-6 engines are advised to activate the vehicle's parking brake before shutting off its engine, because the shifter may incorrectly indicate park is engaged. Customers with additional concerns may call 1-800-853-1403. Related Video:

Chrysler recalling 278,222 trucks and SUVs over bad rear axles

Chrysler has issued a recall of 278,222 light trucks and sport utility vehicles here in the United States. The reason: bad rear axles. Specifically, according to the National Highway Traffic Safety Administration, the rear axle pinion nut may lack a necessary adhesive patch, which could cause the nut to loosen. If this happens, the axle can lock up, which could cause all sorts of havoc on the road.
This is an expansion of the rear axle recall announced in October of last year, where 44,300 Ram 1500 and Dodge Dakota models were being called in. At that time, 12 accidents had been reported due to the faulty axle pinion nut.
Affected vehicles include Ram 1500 trucks from the 2009 to 2012 model years, Dodge Dakota models from the 2009 to 2011 model years, and both the Chrysler Aspen and Dodge Durango SUV twins, both from the 2009 model year only.