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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.

2019 Fiat 500X refresh revealed for Europe

Jeep revealed the lightly refreshed Renegade subcompact crossover earlier this summer for the European market, so it's only natural that its fraternal twin, the 2019 Fiat 500X, would get a very similar type of makeover. Currently the refresh is only confirmed for Europe, but expect similar changes to arrive in the U.S. Visually, it's only subtly different. The headlights now feature LEDs for both accents and forward illumination, and they're slightly reshaped. The taillights are now rings that have body-color inserts in the middle, similar to those of the regular Fiat 500. The rest of the body is pretty similar to the current one, but a number of character lines have been given sharper creases. The interior is also pretty much the same except for a revamped instrument cluster. The big changes, as with the Renegade, are under the hood. Three gasoline engine options will be available, two of which are turbocharged. The smaller of the turbo engines is a 1.0-liter three-cylinder engine making 120 horsepower and 140 pound-feet of torque. The larger turbo engine is a 1.3-liter four-cylinder engine making 150 horsepower and 199 pound-feet of torque. Interestingly, there's no 180-horsepower version of the 1.3-liter engine listed, as there is with the Renegade. There's also a naturally aspirated 1.6-liter four-cylinder making 110 horsepower that's a carryover from the old model. Diesel engines will continue to be available on the 500X as well. They're all four-cylinder engines in 1.3-, 1.6-, and 2.0-liter displacements, from 95 horsepower up to 150 horsepower. Four transmissions are available to connect to these engines. They include a five-speed manual, a six-speed manual, a six-speed dual-clutch transmission and a nine-speed automatic. Front- or all-wheel drive is also available. Of the powertrains available for the European market, the turbocharged gas engines are probably the only ones coming to the U.S. Pricing hasn't been listed for any markets, but expect that and U.S.-market specific details to come later this year. Related Video: Featured Gallery 2019 Fiat 500X Euro-spec View 17 Photos Image Credit: Fiat Fiat Crossover SUV fiat 500x

Neiman Marcus adds $65,000 Fiat 600 Jolly look-alike to Fantasy Gifts collection

Neiman Marcus recently released its Fantasy Gifts collection - a part of its Christmas catalog - that includes his and hers Island Cars featuring bespoke touches by Lilly Pulitzer. The vehicles are customized versions of the Island Car built by Island Car Limited in West Palm Beach, FL. The compact beach machines are manufactured to look like the Fiat 600 Jollys that were made in 1959 and from 1961 to 1964. The new ones cost $65,000 each. Neiman Marcus' Island Cars comes with signature Lilly Pulitzer prints, towels, tote bags, swim trucks for him, as well as a caftan (a long, loose dress) for her. Other than these extras, the beach-oriented cars share a lot of the same components as the ones built by Island Car Limited. The vehicles are built off a composite construction and compared to an original Jolly are lower, wider, and have more storage space. The Island Cars are powered by the company's own electric motors and lightweight batteries. Island Car Limited doesn't say what kind of range or batteries the compacts have, so we're assuming the vehicles are Neighborhood Electric Vehicles. While $65,000 is a lot of money for an electric vehicle that doesn't have doors, Hagerty values the average price of a 1964 600 Jolly at $44,400. Looking for something more powerful from the Neiman Marcus catalogue? There's always the Infiniti Q60 Red Sport. Related Video: News Source: Neiman MarcusImage Credit: Neiman Marcus Celebrities Design/Style Green Fiat Coupe Electric Special and Limited Editions neiman marcus neiman marcus christmas book