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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.

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.

Killing the Dart and 200 might lower FCA's fuel economy burden

Killing the Dodge Dart and Chrysler 200 could allow FCA US to take advantage of an intriguing quirk in the next decade's fuel economy regulations. By increasing its ratio of trucks versus cars, the automaker might not need to worry so much about hitting the more stringent efficiency rules. At first thought, it might seem harder for an automaker with a ton of trucks to meet the government's mandated 54.5 mile per gallon corporate average fuel economy for 2025. However, every company doesn't need to hit that lofty figure, according to The Detroit Free Press. The exact target varies by the product mix between trucks and cars. "While passenger car and light truck categories have separate CAFE targets, it's still true that more trucks versus cars in a company lineup means a lower combined CAFE target," Brandon Schoettle, Project Manager Sustainable Worldwide Transportation at the University of Michigan Transportation Research Institute, told Autoblog. "While passenger car and light truck categories have separate CAFE targets, it's still true that more trucks versus cars in a company lineup means a lower combined CAFE target." FCA US' current product blend has 80 percent pickups and CUVs, which means the company stands to benefit from a lower fuel economy target. It might not seem entirely fair environmentally, but this is a great move from a business perspective. The new CAFE rules aren't set in stone, according to The Detroit Free Press, but potentially taking advantage of the regulation is just one more reason to cut the Dart and 200. Modern crossovers also aren't gas guzzlers like older SUVs, which could make it easier to hit the fuel economy target. "Utilities offer practicality and versatility that cars do not, and now, built on car architectures, they do not penalize consumers on fuel economy as they once did," AutoTrader Senior Analyst Michelle Krebs told Autoblog. Schoettle warns that FCA is still making a gamble by killing the small sedans. "Depending on the previous sales volumes and how much these vehicles might have exceeded their specific CAFE targets, it's possible that these cars helped earn CAFE credits for FCA that they could bank for future use," he said. "Future sales breakdowns [car vs.