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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.

These cars are headed to the Great Crusher In The Sky

It happens every year. We bid adieu to some cars and trucks that will be missed, and say good riddance to others wondering how they stayed around so long. Whether they're being killed off for slow sales or due to a new product coming along to replace them, the list of vehicles being discontinued after 2012 is surprisingly long and diverse.
CNN Money has compiled a list of departing vehicles, to which we've added a few more of our own. In the slow sales column, cars like the Lexus HS 250h, Mercedes-Benz R-Class and the full Maybach lineup appear, while the Ford Escape Hybrid, Mazda CX-7 and Hyundai Veracruz are all having their gaps filled with more modern and more fuel-efficient alternatives. Obvious exceptions to the rule include models that still sell in decent numbers like the Jeep Liberty and the Chrysler Town & Country (which will eventually be replaced by a crossover-like vehicle).
Check out our gallery of discontinued cars above, then scroll down for more information.

Viper owners raising money to retake the Nurburgring lap record

Nurburgring lap times – unofficial as they may be – are the locker room comparison contest of the automotive world. For several years, the lap record of 7:12:13 was held by a 2011 Dodge Viper ACR. The Viper and America were the rulers of the roost until the usurper, the Porsche 918, came in a stole the crown. The death knell is ringing for the Viper, and a group of owners are raising money to send the car to the 'Ring for one last chance at glory. The current Dodge Viper ACR is an astonishingly capable car. All of the flaws that make it miserable to live with everyday - stiff suspension, obnoxious exhaust, speed-bump-gouging splitter - make it one of the most formidable road-legal track machines ever created. Unfortunately, that single-purpose nature turned off a lot of customers, and slow sales have led to the end of Viper production. The Viper holds lap records on more than a dozen of tracks, but, like a driver winning the Indianapolis 500, only one belt notch truly matters. The ViperExchange is willing to supply two ACRs and two drivers well versed in the Nurburgring in order to retake the record. The problem with attempting to set the record is mostly down to logistics. According to the GoFundMe page, the total cost to send the cars, pay for the track, the supplies, and operating expenses is about $150,000 and $200,000. The group says this is entirely a volunteer effort and are asking for donations to fund the Viper's return. Those wishing to help replant the stars and stripes and fill the forests of Germany with the truck-like roar of an odd-firing V10 can donate online. If they fall short, donations will be returned. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: GoFundMe Auto News Dodge Coupe Racing Vehicles Performance dodge viper acr nurburgring record lap record