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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.

Lee Iacocca's very first Dodge Viper RT/10 nets $285,500 at auction

The first 1992 Dodge Viper RT/10 to roll down the assembly line, which was snapped up by Chrysler chief Lee Iacocca, yesterday hammered at the Bonhams auction in Arizona for $285,500, more than double the pre-sale estimate. According to a history of the car published by the auction house, Iacocca, in his introduction of the Viper to the press, pointed to the car on stage and said, "This one right here is mine." That historic Viper, with serial number 001, has never been available on the open market, as Iacocca kept the car from new until he passed away last year. The car has been driven just 6,200 miles and was being sold by his estate. Other Lee Iacocca cars offered at the same sale fared less well. A 1986 Chrysler LeBaron Town & Country convertible — the ultimate expression of Iacocca's company-saving K-cars — with 20,500 miles on it sold for $19,040. That's less than the $20,000 to $25,000 the auction house had estimated the car would bring. A third car from the former auto executive's estate was a customized 2009 Ford Mustang. The pony car was one of a limited run of 45 Iacocca-branded custom Mustangs, which were reworked by Metalcrafters and sold by Galpin Ford in Los Angeles. The Iacocca Mustang, never titled and with 220 miles on it, hammered for $49,280. Related Video:     Featured Gallery Lee Iacocca's 1992 Dodge Viper RT/10 View 13 Photos Celebrities Chrysler Dodge Auctions Automotive History

Ralph Gilles publishes futuristic sketch that lampoons yellow spoiler guards

FCA design boss Ralph Gilles doesn't want to see yellow spoiler guards on future Dodge models. He joined the chorus of internet users urging Challenger and Charger owners to remove the protective strips installed at the factory by telling the story behind a futuristic-looking design sketch on his official Instagram account. The stylist explained the coronavirus work-from-home order isn't stopping his team from organizing design reviews. And, while he's not normally allowed to post images of future products on social media, he decided to make an exception. "This experimental design of a Dodge of the future fell on the cutting room floor ... because the designer decided to make the yellow spoiler guards a permanent part of the theme," he wrote. This isn't the first time Dodge has spoken out against owners who decided to keep the yellow spoiler guards on their car. The company even recently decided to make them pink to curb their popularity. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Looking beyond the spoiler's yellow accents, the sketch depicts what appears to be a coupe with a front end that shares very few styling cues with Dodge's current design language. The round headlights seen on cars like the Challenger are replaced by ultra-thin LED lines, the grille is little more than a gap, and there's a gaping air vent right below it. The entire front fascia is painted black, a look oddly reminiscent of SEAT's Bocanegra models. Sculpted sides, wheels that stick out of the wheel arches, and a glass roof add a finishing touch to the design. Gilles only posted one sketch, so we don't know what the rear end looks like. His team is busily designing the next-generation Challenger, tentatively due out by 2023, but we don't expect it will look like the sketch that surfaced on Instagram. Mark Trostle, Dodge's head of design, previously affirmed the retro lines are here to stay. The four-door Charger is due for a makeover, too, and its design isn't as firmly anchored to tradition as the Challenger's. Time will tell whether the sketch subtly previews the direction Dodge is taking the model in. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.