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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.

The Chrysler brand could be axed under Stellantis management

MILAN — While running NissanÂ’s North American operations from 2009 to 2011, Carlos Tavares had a reputation for closely watching costs with little tolerance for vehicles or ventures that didnÂ’t make money. Experts say that means Tavares, currently the head of PSA Group, is likely to follow that blueprint when he becomes leader of a merged PSA and Fiat Chrysler Automobiles. The low-performing Chrysler brand might get the axe as could slow-selling cars, SUVs or trucks that lack potential. Already the companies are talking about consolidating vehicle platforms — the underpinnings and powertrains — to save billions in engineering and manufacturing costs. That could mean job losses in Italy, Germany and Michigan as PSA Peugeot technology is integrated into North American and Italian vehicles. “You canÂ’t be cost efficient if you keep the entire scale of both companies,” said Karl Brauer, executive analyst for the iSeeCars.com auto website. “WeÂ’ve seen this show before, and weÂ’re going to see it again where they economize these platforms across continents, across multiple markets.” Shareholders of both companies are to meet Monday to vote on the merger to form the worldÂ’s fourth-largest automaker, to be called Stellantis. The deal received EU regulatory approval just before Christmas. Tavares, who for years has wanted to sell PSA vehicles in the U.S., wonÂ’t take full control of the merged companies until the end of January at the earliest. He likely will target Europe for consolidation first, because thatÂ’s where Fiat vehicles overlap extensively with PSAÂ’s, said IHS Markit Principal Auto Analyst Stephanie Brinley. Europe has been a money-loser for FCA, and factories in Italy are operating way below capacity — a concern for unions, given FiatÂ’s role as the largest private sector employer in the country. “We are at a crossroads,Â’Â’ said Michele De Palma of the FIOM CGIL metalworkersÂ’ union. “Either there is a relaunch, or there is a slow agonizing closure of industry, in particular the auto industry, in Italy.” ItalyÂ’s hopes lie with the luxury Maserati and sporty Alfa Romeo brands, but De Palma said investments are needed to bring hybrid and electric technology up to speed. FiatÂ’s Italian capacity stands at 1.5 million vehicles, but only a few hundred thousand are being produced each year. Most factories were on rolling short-term layoffs due to lack of demand, even before the pandemic.

2016 Dodge Viper ACR is ready to take a bite out of the Corvette Z06 [w/video]

The Dodge Viper ACR is back, and as Fiat Chrysler Automobiles tells it, it's the most venomous breed ever born. Before you get too excited, the 8.4-liter V10 produces 645 horsepower; five more than the standard Viper and five less than the supercharged Chevrolet Corvette Z06. It's unclear why Dodge didn't extract more from the huge engine, although we somehow imagine that certain people in Maranello, Italy had a say in the matter. Instead of blessing the ACR variant with bunches of extra output, Dodge instead turned to an aggressive aerodynamics package that it claims delivers nearly a ton of downforce at the Viper's maximum speed of 177 miles per hour. The total aero package includes an adjustable, twin-element, carbon-fiber rear wing, carbon-fiber diffuser, an extendable front splitter, and dive planes. Those big louvers on the hood? Yeah, they're removable, too. The "race-tuned" suspension uses coil-over Bilstein shocks that offer ten different settings and up to three inches of height adjustment. Kumho Ecsta V720 tires were built specifically for the Viper ACR, and come in 355/30 in back and 295/25 in front, with 19-inch wheels at all four corners. Along with the aero improvements, Dodge is claiming the Viper can pull a race-car-like 1.5Gs in higher-speed turns. Carbon-ceramic brakes with six-piston calipers add the stopping power that's greater or equal to the ACR's cornering performance. Dodge was also keen to reduce weight, taking some rather dramatic measures in the effort. The stereo has just three speakers, while the electric function was removed from the seats. Even the carpet has been replaced with a "lightweight" alternative. Finally, Dodge is offering up the innovative 1 of 1 customization it pioneered with the Viper GT earlier this year. That means that not only can you get the fastest Viper ever built, but it'll be entirely your own when you take delivery.