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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.

Dodge Charger and Challenger will live on, but a new Viper is unlikely

BALOCCO, Italy — As FCA's latest five-year plan was presented last week, most of the day was focused on four brands — Jeep, Ram, Maserati and Alfa Romeo. That left a lot of people wondering about the future of the Chrysler, Fiat and Dodge nameplates. At the last five-year event, Dodge was one of the main features. We heard plans for an expanded lineup that included refreshed versions of the Viper, Challenger and Charger, the last two riding on the Alfa Romeo Giorgio platform. Times sure have changed. Dodge isn't going away, but the brand will be narrowed and focused. Performance is the name of the game, but don't look for a new Viper anytime soon. FCA CEO Sergio Marchionne simply said it's "not in the plan." Marchionne thought it was a great idea but that it couldn't live on as a standalone product. If it does eventually return, expect it to share parts with other FCA products, possibly with one of the upcoming Maseratis. On the other hand, Marchionne confirmed that both the Dodge Challenger and Charger will continue to live on. In the last five-year plan, FCA said that the pair would share underpinnings with future Alfa Romeos. That was promising news for those hoping for smaller, lighter versions of each model that would be better suited to fight models like the Ford Mustang and Chevy Camaro. It seems the Alfa Romeo platform is off the table. Marchionne said the current LX platform would indeed live on, though it would be "unrecognizable" compared to what we have today. The LX architecture is ancient, and, although it's been continuously updated, its basic bones date back to the DaimlerChrysler days. Marchionne said that the Alfa platform just doesn't have the character American shoppers are looking for in those vehicles. It's unclear when the next iteration of the Charger and Challenger will arrive, but expect another refresh sometime before 2022. Look for an updated version of the tried-and-true Hemi V8. Rumors continue to swirl about a larger and more powerful 7.0-liter variant dubbed the Banshee, but we'll have to wait and see how that pans out. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ford Mustang Shelby GT350R named Road & Track Performance Car of the Year

With a 526-horsepower, 5.2-liter V8 that roars to 8,250 rpm, it's really hard to consider the 2016 Ford Shelby Mustang GT350R an underdog in any fight. However, the Shelby held the lowest as-tested price and was only middle of the pack in terms of power in Road & Track's 2016 Performance Car of the Year challenge. The 'Stang's numbers clearly didn't tell the whole story about the potent coupe because Ford's muscle car grabbed the title in this year's test. A model needs to be new or significantly updated to be eligible for the honor, and R&T found an impressive slate of eight candidates this year. The challengers included the Bentley Continental GT3-R, Cadillac ATS-V Coupe, Chevrolet Corvette Z06, Dodge Viper ACR, Mercedes-AMG GT S, and Porsche Cayman GT4. The Ferrari 488 GTB was the most expensive of the bunch with an as-tested price of $347,942, which is five times more than the Shelby. Once the group was together, R&T hustled them over curving roads and on the National Corvette Museum Motorsports Park. There was a lot to love about the Shelby, even in this impressive crew. "With a flat-plane crank and Sport Cup 2 tires, the GT350R is a Mustang turned up to 11," editor-in-chief Larry Webster said in the announcement of the results. The GT350R joins some great company. Past winners include the Porsche 911 GT3 last year and the Corvette in 2013. For some fantastic photography and the complete appraisal of these performance machines check out R&T's website for the full story. Related Video: ROAD & TRACK NAMES THE FORD MUSTANG SHELBY GT350R THE 2016 PERFORMANCE CAR OF THE YEAR New York, NY (November 9, 2015) – Road & Track today named the Ford Mustang Shelby GT350R the 2016 Performance Car of the Year, beating out seven of the world's best new sports cars. The article appears in the December/January issue, on newsstands November 17, and on RoadandTrack.com. "With a flat-plane crank and Sport Cup 2 tires, the GT350R is a Mustang turned up to 11," said Larry Webster, editor-in-chief of Road & Track. "Not only does the car have soul and harness so much firepower with such ease, but the real achievement here is that it's so approachable. It's a car you can't help but love." The Mustang Shelby GT350R was the winner by a runaway vote.