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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.

Fiat Chrysler to get $105M fine from NHTSA for recall woes

The National Highway Traffic Safety Administration is about to send a powerful message to automakers doing business in the United States, assuming reports of an upcoming $105 million fine against Fiat Chrysler Automobiles comes to fruition. In addition to the record-setting monetary fine, according to The Wall Street Journal, FCA will have to accept an independent auditor that will monitor the company's recall and safety processes and will be forced to buy back certain recalled vehicles. In other cases, such as with Jeep Grand Cherokee and Liberty models with gas tanks that could potentially catch fire in certain types of accidents, FCA will offer financial encouragement for owners to get their recall work done or to trade those older vehicles in on new cars, according to the report. FCA could reportedly reduce its fines if it meets certain conditions, though those remain unclear at this time. These actions against FCA are being taken after NHTSA began a probe into the automaker over almost two dozen separate instances where the government claims FCA failed to follow proper procedures for recalls and safety defects. Included in those safety lapses are more than 11 million vehicles currently in customer hands. These penalties and fines are separate from the investigation over security problems with Chrysler's Uconnect system that allowed hackers to obtain remote access into key vehicle systems in 1.4 million vehicles. Related Video: Image Credit: Marco Bertorello/AFP/Getty Earnings/Financials Government/Legal Recalls Chrysler Dodge Fiat Jeep RAM Safety fiat chrysler automobiles fine

Jeep reportedly releasing Peugeot-based, Fiat-built baby 'ute in 2022

Jeep is now under the same Stellantis-branded roof as Peugeot, among other European carmakers. It will take full advantage of its new ownership to quickly develop and launch an entry-level car, according to a new report. Anonymous sources told industry trade journal Automotive News that the yet-unnamed model will be positioned directly below the Renegade. Rumors of a baby Jeep have popped up time and again in the past few years, and most claimed it would share its underpinnings with the Fiat Panda 4x4, an immensely capable city car that's a regular sight in the Alps. Those plans have allegedly changed; the soft-roader is now being designed around the Common Modular Platform (CMP) that underpins the Peugeot 208 and the Citroen C4, among other models. Using the CMP platform unlocks several benefits. It's much newer than the architecture found under the Panda, it's highly modular, and it was developed with gasoline, diesel, hybrid, and electric powertrains in mind. It sounds like the first Peugeot-based Jeep will come standard with front-wheel-drive, and it will offer an optional four-wheel-drive powertrain consisting of a longitudinally-mounted engine that will spin the front wheels and an electric motor that will put the rear wheels into motion. Odds are the motor will be capable of powering the crossover on its own, too. Most of the powertrain components will come from Peugeot. CMP wasn't designed for hardcore off-roading, so we're expecting more of a shrunken Renegade for the boulevard than a downsized Wrangler for the trail. Fiat will build Jeep's smallest model in Tychy, Poland, in a factory that currently churns out the Fiat 500 and the Lancia Ypsilon. Production is tentatively scheduled to start in 2022, and it's too early to tell if we'll see the crossover in America. Its pocket-sized dimensions might keep it away from our shores. It will certainly increase Jeep sales on the European market, where models that sell relatively well in the United States regularly post dismal sales figures. For example, the Grand Cherokee is a seen as a leviathan of a family hauler and the Wrangler is heavily taxed. Peugeot's CMP platform will allegedly underpin the production version of the Alfa Romeo Tonale concept, too. Pegged below the Stelvio, the crossover was originally developed on the Renegade's bones — some sources claim that's still the case, and Alfa Romeo hasn't shed light on the matter. Reportedly, Fiat will later get a CMP-based car.