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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.

Tesla Model S P85D shows 707-hp Dodge Challenger Hellcat how to drag race

Street Car Drags hosted a bang-up event at the Palm Beach International Raceway last weekend, with a list of massive horsepower ICE cars going up against one another and a trio of Tesla Model S P85Ds. One of those duels pitted the 691-horsepower Tesla against a 707-horsepower Dodge Challenger SRT Hellcat, and the result was an old-school beatdown and a world record for electric cars. The Model S P85D ran the quarter in 11.6 seconds at 114.6 miles per hour, the new mark for BEVs at the drag strip. Proving its pace, it ran three more times in 11.69, 11.72 and 11.76 seconds. It got from the start line to 60 miles per hour in 3.1 seconds. The Hellcat, well, it wasn't a race, really. It was the Hellcat's driver's first time at a drag strip and his first time trying to launch it, so after an excellent burnout ahead of the lights, he rolled to the line, almost jumped the start, balked at the real start and spun his tires for the first 100 feet down the strip. The theory is that he overheated his street tires during that burnout, and the resulting greasy rubber did what greasy rubber does. By the time he got to the other end 17.46 seconds later the Tesla driver had showered and was enjoying a funnel cake. When things go right, though, Dodge estimates the Hellcat will do 11.2-second runs on street tires and it has been clocked at 10.85 seconds at 126.18 mph on street-legal drag radials. There's video of the not-quite-a-race above, and Drag Times says there'll be a rematch between the two in a couple of weeks. News Source: Street Car Drags via YouTube Green Motorsports Dodge Tesla Coupe Electric Luxury Performance Videos Sedan drag racing dodge challenger srt hellcat

Bentley Continental GT V8 and Toyota 4Runner | Autoblog Podcast #604

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Senior Editor, Green, John Beltz Snyder. First, they talk about driving the 2020 Bentley Continental GT V8 First Edition, followed by the 2020 Toyota 4Runner TRD Off-Road. Then they revive a format called "This or That," discussing the Jeep Wrangler vs. Gladiator, Subaru Forester vs. Outback, Mustang vs. Camaro vs. Challenger, and whether they'd rather spend $25,000 on a new or vintage car. They've got an update on a previous Spend My Money segment, and, finally, they help another listener pick a daily driver. Autoblog Podcast #604 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2020 Bentley Continental GT V8 2020 Toyota 4Runner This or That: Jeep Gladiator or Jeep Wrangler Subaru Forester or Subaru Outback Ford Mustang, Chevy Camaro or Dodge Challenger Vintage car or new car Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Bentley Chevrolet Dodge Jeep Subaru Toyota Truck Coupe SUV Luxury Off-Road Vehicles Performance Classics