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Fiat Chrysler open to mergers, and PSA is looking for one

GENEVA — Fiat Chrysler (FCA) is open to pursuing alliances and merger opportunities if they make sense, but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley said on Tuesday. "We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future, I will look at that," Manley told reporters at the Geneva Motor Show. Asked whether he would consider selling Maserati to China's Geely Automobile Holdings, as suggested by recent media reports, Manley said: "Maserati is one of our really beautiful brands and it has an incredibly bright future. ... No." FCA is often cited as a possible merger candidate. Bloomberg said this week that the Italian-American carmaker was attractive to France's PSA Group given its exposure to the U.S. market and its popular Jeep brand. The Detroit News' headline on the situation Friday read, "Fiat Chrysler CEO open to a deal as PSA circles" and stated that Manley's open-to-just-about-anything comments were aimed directly at PSA. Bloomberg said talks between the two were preliminary and said PSA chief Carlos Tavares has also contemplated mergers with General Motors or Jaguar Land Rover, which is losing money for Indian owner Tata. PSA has enjoyed a decade of turnaround and has $10.2 billion in net cash available. The maker of Peugeot, Citroen and DS, acquired Opel and Vauxhall in 2017 and made them almost instantly profitable. Manley, who took over after the death of Sergio Marchionne, said he currently had no news on possible deals. Manley also said the world's seventh-largest carmaker, which is lagging rivals in developing hybrid and electric vehicles, would take the least costly approach to comply with increasingly more stringent European emissions regulations. "There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines," he said. "I don't see a scenario when (carmakers) continue to subsidize technologies ... indefinitely." The carmaker had said last June it would invest 9 billion euros ($10.19 billion) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations. Asked about a 5-billion-euro investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

Marchionne wants Maserati to be FCA's new Ferrari

Fiat Chrysler Automobiles is gearing up to spin Ferrari, its most profitable brand, off into another company, and float its stock on the open market. That means it's going to need another profit-driver to generate income for the rest of the group. And according to its chief executive Sergio Marchionne, that mantle will soon be picked up by Maserati. FCA is betting big on Maserati, which has long stood as a niche marque with a limited array of models and low sales numbers. In addition to the recently introduced Ghibli and Quattroporte sedans – now crucially offered with diesels and all-wheel drive – Maserati is preparing to roll out the Levante crossover that promises to do for the Modenese marque what the Cayenne did for Porsche. Due in part to the success of its first crossover, Porsche turned itself from a niche sports car manufacturer into an immensely profitable automaker that was (nearly) capable of buying out the entire Volkswagen Group. Maserati's resurgence is part of a two-pronged assault FCA is plotting against its German rivals. Maserati will be charged with taking on the higher end of the Mercedes, BMW, and Audi ranges (from the E-Class, 5 Series and A6 upwards). Meanwhile, Alfa Romeo will go after the lower end of the luxury spectrum with the new Giulia (aimed at the C-Class, 3 Series and A4) and other models to follow. FCA aims to turn Maserati and Alfa Romeo (along with Jeep) into global brands, broadening the narrow geographical appeal they have held until now. In order to generate enough profit to support the rest of the group as Ferrari has, Maserati will need to find a way to increase its profit margins. Bloomberg reports that Ferraris command a 13-percent profit margin, and while the ten percent that Maseratis list for is still triple that of the FCA average, slow sales are forcing some dealers to offer deep incentives that cut significantly into that margin. Related Video:

Maserati Gran Turismo recalled for fire risk

The Basics: Maserati is recalling 33 examples of the 2016 GranTurismo and GranCabrio built from September 1, 2015 to November 30, 2015. The Problem: A non-galvanized main fuel delivery line can corrode and cause a fuel leak and increase the risk of a fire. Injuries/Deaths: None reported. The fix: Dealers will replace the main fuel delivery line free of charge as of January 7, 2016. If you own one: Owners may contact Maserati customer service at 1-201-816-2600, citing the brand's number for this recall: 300. You may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov. Related Video: Report Receipt Date: DEC 18, 2015NHTSA Campaign Number: 15V849000Component(s): FUEL SYSTEM, GASOLINEPotential Number of Units Affected: 33Manufacturer: Maserati North America, Inc.SUMMARY: Maserati North America, Inc. (Maserati) is recalling certain model year 2016 Granturismo and Granturismo Convertible vehicles manufactured September 1, 2015, to November 30, 2015. The affected vehicles are equipped with a non-galvanized main fuel delivery line that may corrode and result in a fuel leak.CONSEQUENCE: A fuel leak in the presence of an ignition source can increase the risk of a fire.REMEDY: Maserati will notify owners, and dealers will replace the main delivery fuel line, free of charge. The recall began on January 7, 2016. Owners may contact Maserati customer service at 1-201-816-2600. Maserati's number for this recall is 300.NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.