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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.

Reid Bigland appointed CEO of Alfa Romeo, Maserati

There's been a big shakeup in Fiat Chrysler's leadership team, as head of US sales and FCA Canada CEO Reid Bigland will replace Harald Wester as the chief exec for Alfa Romeo and Maserati. Wester will retain his position as chief technical officer of FCA. Both men will hang onto their positions on FCA's Group Executive Council. The move is an interesting one considering the widely publicized issues at both Alfa and Maserati. Alfa Romeo's problems are almost too many to list. The brand has promised a full-scale return to the US market for more than a decade, but faced repeated delays. Its latest volume model, the Giulia, is being savaged by reviewers over quality issues, and the company has frequently pushed its upcoming CUV back. If that were the only problem, it'd be annoying, but according to Automotive News, Alfa's relaunch is also considerably over budget. Maserati is an entirely different can of worms. Alongside Alfa, it's been stung by a slow Chinese market. Profits are down, according to Automotive News, and it's been widely rumored that the company will delay its next sports car, the Alfieri, until 2018 – it was previously promised for this year. Meanwhile, two of its three other models, the Quattroporte and GranTurismo, are dangerously long in the tooth, and the Levante is still months away from US sales. Can Bigland sort these issues out? Maybe. As Sergio Marchionne said in his official statement, "[Bigland] has an extraordinary record of growing sales and market share in the US and Canada over the last 7 years at FCA, including leading the growth and positioning of the Ram and Dodge brands for part of that time."

2017 Maserati Quattroporte First Drive

When German companies launch a new luxury sedan, they chat about more power, better economy, and leveraged links to Silicon Valley's hottest microchip and graphics powerhouses. It's not like that in Italy. The Mediterranean peninsula only has one authentic maker of luxury sedans, and cutting-edge consumer technology has never been Maserati's forte. Beautiful cars, sure. Compelling engine notes, yup. The prioritization of handling emotion above cornering speed and even ride quality? Absolutely. Three years ago Maserati thought that blueprint would be enough for its all-new Quattroporte. It wasn't. For starters, the car wasn't beautiful. Compared to the filigreed purity of its predecessor, the QP (as they call it in Modena) looked awkward, even clunky. A big part of that was the sheer scope of the 124.8-inch wheelbase, which made it nigh impossible to deliver the proportional elegance and unfussed panel pressings of its predecessor. Still, the added length provided rear legroom that takes surveyors to measure. More important than what it had (and whether that was good or bad) was what it didn't have. There was no button on the remote to open the trunk, no self-parking system, no reversing camera, definitely no 360-degree camera setup, no radar cruise control, no semi-autonomous steering, and no modern navigation or infotainment. By far the biggest Maserati (at 207.2 inches, it dwarfs most of the standard versions of almost any sedan, anywhere), the Quattroporte now has some small visual changes and enough driver-assistance stuff (like radar cruise) to bring it up to German levels. At least, that's the on-paper argument. Not one of the 2017 model's visual upgrades is metallic. The changes include a new plastic grille (inspired by the design language of the Alfieri concept car), updated lights, and some very subtle differences between the sportier GranSport and the more luxurious GranLusso versions, two new trim packages. The aero guys have been busy, too, with a flat floor and a new Air Shutter that lowers drag by 10 percent and by itself improves the fuel consumption by three percent (anything else is down to stop-start). In a tech, tech, tech world, the Quattroporte is the anti-Tesla. There are no plans to give the big boy any form of hybrid power much less a plug-in hybrid powertrain. Maserati's engineers look at you funny for mentioning hydrogen fuel cell or battery-electric power.