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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.

Jeep Renegade recalled to prevent hacking

Jeep is issuing a voluntary recall of some 7,800 Renegades over fears that their radios may be vulnerable to hacking. The company is quick to stress that this campaign is independent of the hacking scare earlier this year. Only Renegades fitted with the 6.5-inch touchscreen display are affected by the recall. Owners of the affected vehicles will be mailed a USB jump drive that they can plug into their vehicle for a free software update. Alternatively, owners can head over to the UConnect website, enter their VIN, and download the software to their own jump drive. (See how in our video below.) Dealers will also perform the upgrade free of charge. The software update provides "additional security features," that should prevent remote tampering. If this sounds worrying, it's actually not that huge of a problem. First, Fiat Chrysler Automobiles estimates that over half the affected vehicles are still sitting on dealer lots. More importantly, according to FCA, the vulnerability on the Renegade "required unique and extensive technical knowledge, prolonged physical access to a subject vehicle and extended periods of time to write code," making it considerably different than the Cherokee problem. No injuries or hacks have been reported by any Renegade owner. Related Video: Statement: Software Update September 4, 2015 , Auburn Hills, Mich. - FCA US LLC is conducting a voluntary safety recall to update software in approximately 7,810 U.S.-market SUVs equipped with certain radios. More than half remain in dealer hands and will be serviced before they are sold. The campaign – which involves radios that differ from those implicated in another, similar recall – is designed to protect connected vehicles from remote manipulation. If unauthorized, such interference constitutes a criminal act. FCA US has already applied measures to prevent the type of vehicle manipulation demonstrated in a recent media report. These measures – which required no customer or dealer actions – block remote access to certain vehicle systems. The Company is unaware of any injuries related to software exploitation, nor is it aware of any related complaints, warranty claims or accidents – independent of the media demonstration. Affected are certain 2015 Jeep Renegade SUVs equipped with 6.5-inch touchscreens. Customers will receive a USB device which they may use to upgrade vehicle software. This provides additional security features.

NHTSA investigating why Jeep recall fix is taking so long

Jeep's saga with the National Traffic Safety Administration and the voluntary campaign to repair 1.56 million vehicles for allegedly unsafe trailer hitches, is getting yet another chapter. The controversy appeared to finally be over in January when the automaker found a supplier for the replacement parts. Nothing is ever that easy, though, and the government regulator is now requesting documents from the company to clarify why the repairs are taking so long to begin.
Jeep parent company Chrysler has until July 16 to submit documents and answers to NHTSA explaining the situation. The regulator claims that despite its compromise to inspect and repair the models with improper hitches in June 2013, Chrysler didn't find a part supplier until December and didn't order the replacements until January. The government agency believes that the first components weren't manufactured until May of this year and vehicles may not actually be repaired until as late as August. According to the report, if the Chrysler doesn't supply what NHTSA is asking for, the agency could "take additional appropriate action as warranted."
Throughout this entire process, Chrysler has asserted that the vehicles met the applicable crash test standards of the time, and it has kept NHTSA abreast of the repair activity. In a recently released statement it said that the regulator analyzed eight rear impact reconstruction tests and found the replacement hitch to be safe. To keep up with the high demand for replacements, Chrysler is working with multiple suppliers, and they are running three shifts, six days a week to get the parts ready as soon as possible.