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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Explore Dom's 1970 'off-road' Dodge Charger from Furious 7

The Aficionauto, Christopher Rutkowski, already drove Dom's 1970 Dodge Charger from Fast & Furious and Fast Five. Now he's returning to the franchise for an interview with Dennis McCarthy, the vehicle coordinator on the last five Fast and Furious films, plus a close look at the custom off-road Charger that's one of the automotive stars in Furious 7. Given his resume, when McCarthy admits this is his new all-time favorite vehicle from the franchise, it really means something. Don't worry. McCarthy is careful not to spoil any of the film's action while he shows off the Charger and Shaw's fast attack vehicle that takes on the Dodge. McCarthy does reveal the one car that he still dreams to build for the series, and it's something that every fan should see. This looks like a fantastic blockbuster movie season for anyone that loves to watch cars crash and explode on the big screen. Furious 7 is in theaters right now, and based on the trailer, it promises the biggest stunts ever from the long-running franchise. And in just a few weeks, Mad Max: Fury Road hits cinemas to add a dystopian tinge to the automotive action. Related Video: Related Gallery Dodge Charger Off-Roader for Furious 7 News Source: The Aficionauto via YouTubeImage Credit: The Aficionauto Celebrities Design/Style TV/Movies Dodge Off-Road Vehicles Performance Videos Fast & Furious furious 7 the aficionauto aficionauto

Chrysler minivans under investigation for stalling after fuel refill

According to the National Highway Traffic Safety Administration, at least one man has reported that his 2007 Dodge Grand Caravan stalled unexpectedly on the highway shortly after being refueled. The unidentified man who contacted NHTSA regarding the issue cited as many as eight similar instances reported by other drivers.
NHTSA has announced that it will launch an inquiry into this issue, which could affect as many as 160,000 minivans from Dodge and Chrysler that were sold in 2007 (or more, if a problem is found that extends to additional models years, we'd assume). As of yet, there's no formal investigation, let alone a recall, on these vans, as the agency is merely determining if further action is needed.
Two months ago, Chrysler recalled nearly 700,000 vehicles, the majority of which were minivans, from the 2008-2010 model years to replace ignition switches after an investigation found that their weak springs and detent positions could fool a driver into thinking the car was in the "Run" position, when it's actually in the "Accessory" position.