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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.

The 2018 Dodge Challenger SRT Demon will come with a crate full of goodies

Dodge released its latest trailer for the upcoming 2018 Challenger SRT Demon, and it's all about the extra stuff that comes with the car. Each Demon will be delivered with a custom-painted crate, complete with metal serial tag with the car's VIN and the name of the owner. Inside the crate are 18 items, which will help make the Demon a dual-purpose vehicle. The company says that "each customer can decide at the time of order, or once they own the car, or even at a moment's notice that they want their car to favor street performance, drag strip performance, or something in between." Dodge announced that the crate contains matching spare wheels and Demon-branded tools. In the trailer, we can see some of the tools, including a jack, impact gun, socket wrench, and a tire-pressure gauge. We imagine that part of the plan is that owners can have an extra set of tires, perhaps some even stickier drag slicks, and have everything on hand to swap them out quickly. Dodge also revealed that it will include a "Demon Track Pack System" and "Direct Connection Demon Performance Parts." These items present more of a mystery, since the trailer only shows the wheels and tools. One of the official images (pictured above) shows the crate opened up, and what may be portions of a racing harness. So the Demon may include some safety parts that could be installed or removed to make it safe on track, or comfortable on the street for the driver and passengers. Assuming that any passenger seats are left in the car. Related Video:

Viper owners raising money to retake the Nurburgring lap record

Nurburgring lap times – unofficial as they may be – are the locker room comparison contest of the automotive world. For several years, the lap record of 7:12:13 was held by a 2011 Dodge Viper ACR. The Viper and America were the rulers of the roost until the usurper, the Porsche 918, came in a stole the crown. The death knell is ringing for the Viper, and a group of owners are raising money to send the car to the 'Ring for one last chance at glory. The current Dodge Viper ACR is an astonishingly capable car. All of the flaws that make it miserable to live with everyday - stiff suspension, obnoxious exhaust, speed-bump-gouging splitter - make it one of the most formidable road-legal track machines ever created. Unfortunately, that single-purpose nature turned off a lot of customers, and slow sales have led to the end of Viper production. The Viper holds lap records on more than a dozen of tracks, but, like a driver winning the Indianapolis 500, only one belt notch truly matters. The ViperExchange is willing to supply two ACRs and two drivers well versed in the Nurburgring in order to retake the record. The problem with attempting to set the record is mostly down to logistics. According to the GoFundMe page, the total cost to send the cars, pay for the track, the supplies, and operating expenses is about $150,000 and $200,000. The group says this is entirely a volunteer effort and are asking for donations to fund the Viper's return. Those wishing to help replant the stars and stripes and fill the forests of Germany with the truck-like roar of an odd-firing V10 can donate online. If they fall short, donations will be returned. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: GoFundMe Auto News Dodge Coupe Racing Vehicles Performance dodge viper acr nurburgring record lap record