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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.

Reveling in the reveals: BRZ, Civic, Wrangler, QX55

It’s almost like there should have been an auto show this week. If youÂ’re an enthusiast, you know the week before Thanksgiving is when the Los Angeles Auto Show kicks off. This year, thereÂ’s no L.A. show, at least until next May. But Subaru, Honda, Jeep and Infiniti rolled out significant new products this week, making us almost nostalgic for auto shows. Serendipity, or more likely previously allocated marketing budgets, gave us a familiar feel of new products, even though we couldnÂ’t feel or touch them under the bright lights of the Los Angeles Convention Center. LetÂ’s break them down: 2022 Subaru BRZ 2022 Subaru BRZ View 62 Photos Subaru stuck to basic formula here: The 2022 BRZ remains a rear-wheel drive sports coupe thatÂ’s supremely lightweight, adequately powered and attractive. Subaru debuts its new boxer four-cylinder in the BRZ. ItÂ’s rated at 223 hp and you need to rev all the way to 7,000 rpm to achieve that output. I'd prefer a bit more than the 184 lb-ft of torque the powerplant offers (reasonably low in the band at 3,700 rpm), for some more off-the-line grunt. Say 200 lb-ft, though itÂ’s almost a cliche to argue the BRZ is underpowered.  The outgoing BRZ is one of the purest cars IÂ’ve driven, so rather than harp on the power, which will ultimately be fine, give Subaru props for focusing on chassis improvements to improve rigidity by 60 percent and aid turn-in. Admirably, the curb weight is less than 2,900 pounds, and the manual in Premium trim checks in at the lowest, just 2,815 pounds.  Aesthetically, I like it. ItÂ’s busier than before, and thereÂ’s a lot more going on with the front fascia, wheel arches and fenders. ThereÂ’s a bit of a Porsche vibe up front, which is good, and a bit of a Honda Civic vibe in back (think 2010) thatÂ’s not.  ItÂ’s impressive that Subaru resisted the urge to gratuitously power up the BRZ and remained focused on the essence of its goodness and appeal to enthusiasts. 2021 Jeep Wrangler 392 2021 Jeep? Wrangler Rubicon 392 View 75 Photos What effect will the 2021 Ford Bronco have on the Jeep Wrangler? One school of thought is that it will actually make the Jeep better, and the 2021 Wrangler 392 is proof positive that will be the case. With the Bronco attracting spectacular levels of attention, Jeep could not sit idly by and remain focused on incremental changes. It needed to make a splash.

Jeep in St. Louis hacked from Pittsburgh

One of America's most popular vehicles contains a security flaw that allows hackers to remotely commandeer it from anywhere on the planet. Cyber-security researchers Chris Valasek and Charlie Miller say they've accessed critical vehicle controls on a 2014 Jeep Cherokee that allowed them to remotely control critical vehicle functions like braking, transmission function, and steering. Automakers have downplayed the possibility a car could be remotely compromised, but the significance of the findings detailed Tuesday could cause them to reevaluate the threats posed to hundreds of thousands of vehicles already on the road. A key finding – the pair needed no physical access to the Jeep to pull off the attack. Valasek and Miller accessed the controls via a security hole in the Sprint cellular connection to Chrysler's UConnect infotainment system. In the course of their research, Valasek sat in his Pittsburgh home and remotely manipulated Miller's Jeep as he drove along a highway outside St. Louis. If you know a car's IP address, they say, a hacker could control it from anywhere. "We didn't add anything, didn't touch it," Valasek told Autoblog. "A customer could drive one of these things off a lot, and they'd have no clue it had these open attack surfaces." Remotely, he disabled brakes, turned the radio volume up, engaged windshield wipers and tampered with the transmission. Further, they could conduct surveillance on the Jeep, measuring its speed and tracking its whereabouts. They conducted the experiments over multiple breaches. They made their findings public on the same day the National Highway Traffic Safety Administration, the federal agency in charge of vehicle safety, released its latest report on the readiness of government and automakers to fend off these sorts of cyber attacks. Later today, two US Senators are expected to introduce legislation that would help consumers better understand the potential risks of car hacking. In the early stages of their research, Valasek and Miller found a security flaw in the car's wi-fi that allowed them to remotely manipulate controls from a range of about three feet. But in recent months, they found another vulnerability in the Sprint cellular connection in the UConnect system. That was a key breakthrough. "Lo and behold, we found we could communicate with this thing using cellular, and then more research, and 'Holy cow,' we're using the Sprint network to communicate with these vehicles," Valasek said.