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Hyundai reportedly eyeing a takeover of FCA

The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover

6 best cars for $5,000

Looking for a great used car but only have a few thousand bucks to spend? Check out our 6 favorite used vehicles that you can get for around $5,000 or less. 1. 2004-2006 Subaru WRX The Subaru Impreza WRX offers a lot of what you might want in a vehicle. A 2L turbocharged engine gives 227 horsepower and it gets 27 mpg on the highway. 2. 2006-2015 Mazda5 The Mazda5 never got the sales it deserved. It was affordable and more maneuverable than most vehicles, but it never took off. It was based on the Mazda3, and felt like it as well... just a bigger version. If you're lucky, you'll be able to locate one with a manual transmission. 3. 1990-1997 Mazda MX-5 Miata A car that's praised for rewarding the driver. The shifter is sublime, and the controls are light and accurate. The 1.6-liter engine that makes 115 horsepower or a 1.8-liter that makes 128 horsepower are our preferred versions. 4. 2009-2013 Honda Fit Beside being cute, it's supremely practical and great in the city. It manages to be pretty entertaining to drive, and let's not forget it's a hatchback. 5. 1987-2006 Jeep Wrangler Yes, it's possible to get a well-loved Jeep Wrangler with about 100,000 miles on the odometer. In many ways, a Wrangler is perfect for the snowy winters with its unrivaled 4x4 capability. An SUV, convertible and icon, all in one? What more could you ask for? 6. 2002 Chevy Silverado Truck lovers, we have you covered. We love the Chevy Silverado with a 5.3-liter V8 engine and a 4-speed automatic transmission. It makes a great second car, especially if you already have a fuel efficient vehicle around the house. What would you buy for $5,000? Honda Jeep Mazda Subaru Autoblog Minute Videos Original Video wrangler mazda5

Jeep's new Chip Away commercial has us hunting Al Pacino's back catalog

Chrysler has done a pretty good job as of late turning its television commercials into pep talks or rallying cries, but for its first ad for the 2014 Jeep Grand Cherokee, it turned to Al Pacino's inspirational speech from the movie Any Given Sunday. In the movie, Pacino's character talks about how football is a game of inches, but the commercial, titled Chip Away, focuses more on the attention to detail that Jeep has exhibited on its updated flagship SUV.
Centering around the newest Grand Cherokee model, the luxurious $47,995 Summit trim level, the commercial shows off some of the hand-stitched leathers and real metal and wood accents found inside the cabin. Check out the new 60-second spot by scrolling below.