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China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.

2022 New York Auto Show, and Subaru Solterra driven | Autoblog Podcast #725

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder. This week was the return of the New York Auto Show, and it was a busy one. Our editors run down some of the reveals, including the updated Kia Telluride and Hyundai Palisade, the long-wheelbase Jeep Wagoneer and Grand Wagoneer L, refreshed Subaru Outback, the gorgeous Genesis X Speedium Coupe concept EV, the 2,200-horsepower Deus Vayanne electric hypercar, a new generation of the Kia Niro family, and the updated Nissan Leaf and Nissan Pathfinder Rock Creek. Then they discuss the news surrounding Elon Musk's offer to purchase Twitter before diving into reviews of the cars we've been driving, including the new Subaru Solterra, Subaru Forester Wilderness and our long-term BMW 330e xDrive and Hyundai Palisade. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #725 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2022 New York International Auto Show 2023 Kia Telluride revealed at NY Auto Show, adds X-Pro trim 2023 Hyundai Palisade revealed with new styling, features, trim level 2023 Jeep Wagoneer, Grand Wagoneer gain L models, Hurricane I6 power 2023 Subaru Outback gets new cladding and lights, more tech Genesis X Speedium Coupe is an electric shooting brake Deus Vayanne EV hypercar reaches for 2,200 horsepower 2023 Kia Niro Hybrid, PHEV and EV debut 2023 Nissan Leaf debuts a mild refresh 2023 Nissan Pathfinder Rock Creek gets a lift and more power Elon Musk offers to buy Twitter for $43 billion Cars we're driving 2023 Subaru Solterra 2022 Subaru Forester Wilderness Long-term 2022 BMW 330e xDrive Long-term 2021 Hyundai Palisade Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

FCA cuts powertrain warranties to 60k miles

FCA US is cutting back the mileage of its powertrain warranty on some 2016 model year vehicles. Rather than the current five years/100,000 miles of coverage, the new amount is five years/60,000 miles for gasoline-fueled models from Chrysler, Jeep, Dodge and Ram. In March 2015, General Motors made a similar switch to five-years/60,000-miles of coverage for Chevrolet and GMC, and FCA US seems to be citing this as part of the reason for the shift. "Following changes already made by competitors, FCA US is adjusting powertrain warranty coverage for 2016 model year vehicles to be more consistent with industry practices," the automaker said in a portion of its statement. The bumper-to-bumper warranty for these vehicles is unchanged at three years/36,000 miles. According to Automotive News, Fiat's warranty is remaining at four years/50,000 miles. When it changed the mileage limit, GM also halved the number of free service visits for Chevy, GMC, and Buick to two from the previous four. The automaker claimed that the reason for the adjustments to its coverage was that a long warranty was seldom a reason for customers to buy a vehicle. Related Video: Response to Query: 2016MY Powertrain Warranty Adjustment Following changes already made by competitors, FCA US is adjusting powertrain warranty coverage for 2016 model year vehicles to be more consistent with industry practices. For 2016MY, Chrysler, Jeep®, Dodge and Ram Truck vehicles with gasoline engines will be covered by a 5 year/60,000 mile powertrain warranty. The basic coverage, also known as "bumper to bumper," remains at 3 years/36,000 miles. # # # News Source: FCA US, Automotive News - sub. req.Image Credit: Mark Ralston / AFP / Getty Images Chrysler Dodge Jeep RAM Car Buying Maintenance Ownership FCA warranty fca us powertrain