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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.

Amazon opens contest for The Grand Tour tickets in the US

British enthusiasts already had the opportunity to win tickets to the first taping of The Grand Tour, and now Amazon has opened up a similar chance for customers in the US. In celebration of Prime Day, which starts today, customers in the US can enter The Grand Tour Prime Day Prize Draw. The prize includes travel, $200 to spend, accommodation, and a meet and greet with Jeremy Clarkson, Richard Hammond, and James May. Customers that are interested fulfilling a childhood dream should visit Amazon's website and fill out the entry form soon as the draw closes on July 12. The Grand Tour will launch this fall as an exclusive for Amazon Prime members with the exact city locations for studio records set to be revealed later this summer. Amazon, however, did reveal that the trio will host shows in the UK, US, and Germany. So there's no need to get too upset if you don't win the draw. With Top Gear getting a major shakeup with the departure of Chris Evans, we're itching to see Clarkson, Hammond, and May behind the wheel of cars again. The trio, it seems, is also excited to get the new show rolling as Clarkson posted a drifty video on his Facebook page. The trio are currently in Italy filming a comparison between an Aston Martin DB11, a Dodge Challenger SRT Hellcat, and Rolls-Royce Dawn. The five-second clip has the Challenger Hellcat and DB11 drifting head-on into the camera crew, which is behind the wheel of an Alfa Romeo. News Source: Amazon, FacebookImage Credit: The Grand Tour TV/Movies Alfa Romeo Aston Martin Dodge the grand tour

Ram exec: first 30-mpg pickup truck will 'win'

It is totally possible, today, to take the Ram 1500 EcoDiesel pickup truck, load it up with gear and people, and drive it from Texas to Michigan while getting 38 miles per gallon. We know because we did it. Officially, though, the 1500 gets just 20 mpg combined. A more impressive number is the 28 mpg on the highway. Bob Hegbloom, the Ram brand director, thinks that there's a more important fuel economy target to hit: 30 mpg. Whichever truck company can manage that feat, he recently told Automotive News, "wins." It's kind of an obvious thing to say, but in the 1500 with both the EcoDiesel and the V6 Pentastar engine, Hegbloom said, "fuel economy is so important." Hegbloom didn't promise that the next EcoDiesel truck will manage to get on up over the 30 hump, but he did say that Ram is not sitting still when it comes to fuel economy. "I just want to have continuous improvement and to keep gaining every day," he said. "We sat still in the past and it doesn't lead to a great place."