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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.

2016 Dodge Viper ACR racks up lap records

With 645 horsepower and an adjustable spoiler nearly six feet wide, the 2016 Dodge Viper ACR would look at home on the runways of most any airport, air base, or aircraft carrier in the world. But it's not built for the runway. It's built for the race track. And it has positively mastered them one after another. In fact, the new Viper ACR has not only beat the lap times of its own predecessor as it set out to, but took the production-car lap record at 13 tracks across the country. The endeavor started out at the Inde Motorsport Ranch in Arizona, where development engineer Chris "The Wolf" Winkler set a lap time of 1:33.75 on the Configuration 4 track to beat every other street-legal vehicle to ever lap the circuit. Then it was off to Buttonwillow, the MotorSport Ranch (in Cresson, TX), Big Willow, VIR, Grattan, Pittsburg, GingerMan, the Motown Mile, Nelson Ledges, Waterford Hills, and Road Atlanta. And with the new American Club Racer, Dodge took the lap record at each and every one. The journey culminated just days ago at Laguna Seca, where track expert Randy Pobst climbed into the Viper ACR and set a lap time of 1:28.65. That's 5.27 seconds faster than the previous ACR's time, and 1.24 seconds faster than the Porsche 918 Spyder that held the record until now. The sum total is a bragging-rights sheet of lap records set at 13 tracks across these United States. And you don't have to take Dodge's word on that. The records have been certified by the Sports Car Club of America (SCCA), cementing the ACR's place in the record books. Nice work if you can get it, and you can scope it out in the video above and press release below. Related Video: 2016 Dodge Viper ACR Is Undisputed Track Record King - Ultimate street-legal race car sets new high-performance benchmark with more track records than any production car in the world - Sports Car Club of America (SCCA) has certified lap records at 13 road courses, including world-famous Laguna Seca, Road Atlanta and Virginia International Raceway - With 645 horsepower and more torque than any naturally aspirated engine in a production car, the ACR is purpose built for weekend club racers who want the most extreme, but street-legal, track car available - Significant aerodynamic and suspension upgrades, new Carbon Ceramic brakes with six-piston calipers from Brembo and high-performance Kumho tires, specifically designed for the new 2016 ACR, set this Viper apart on any road course November 3, 2015, Auburn Hills, Mich.

Jay Leno gets his denim mitts on Dodge's new Challenger Hellcat

The 2015 Dodge Challenger SRT Hellcat is definitely the performance car of the moment. The fact that in the near future, people will be able to buy a 707-horsepower muscle machine straight from a major automaker for $59,995 and with a factory warranty almost seems absurd. We drove it recently and found the Hellcat to be just as much of a beast as its numbers would suggest. Now, it's a certain comedian's turn behind the wheel in the latest episode of Jay Leno's Garage.
This week's guest is Dodge President and CEO Tim Kuniskis, and he's there to drop all sorts of interesting factoids about the Hellcat. For example, its Pirelli P Zero tires retail at around $300 each, he says. That makes its smoky burnouts a rather expensive proposition. Kuniskis, who recently hinted at a mystery Woodward Dream Cruise debut, also talks about the genesis of the 2015 SRT project with a goal to get over some of the standard Challenger's weight and size disadvantages. The fix is a supercharged V8, massive brakes and other goodies to smooth over the platform's more glaring shortcomings.
Leno appears to get a big kick out of the Hellcat. However, he can't seem to stop bringing up his desire to drive one with a six-speed manual. They obviously exist, but Kuniskis has an eight-speed automatic for the retired Tonight Show host to try out. Of course, as with any Hellcat video, there has to be at least one burnout. Despite the expensive tires, it seems like enthusiast's law at this point - and dear ol' Jay wouldn't want to break any rules, would he?