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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.

2019 Maserati Levante Trofeo Drivers' Notes Review | A mixed bag

The first thing you need to know about the 2019 Maserati Levante Trofeo is that it's the most powerful vehicle Maserati currently makes, outgunning models like the GranTurismo and Quattroporte GTS by a good margin. In fact, the only production Maserati more powerful than the Levante Trofeo was the V12-powered MC12 Versione Corse. The Trofeo's 3.8-liter twin-turbo V8 is built by Ferrari and shares more than a little with that company's current crop of V8 engines. The biggest difference is that this engine uses a cross-plane crankshaft in place of Ferrari's flat-plane crank as well as a wet sump oiling system. The Trofeo hits 60 mph in just 3.7 seconds on its way to a top speed of 187 mph. The styling is more aggressive than the already bold Levante GTS thanks to 22-inch wheels, carbon fiber trim and a new hood with vents to help cool the engine. Inside the cabin, nearly every surface is covered with leather and carbon fiber. Now, all this comes at a cost. The Levante Trofeo starts at $169,980, $39,000 more than a Levante GTS and more than twice as much as a base model. You're mostly paying for performance and styling since most of the features on our tester like the upgraded leather upholstery and four-zone climate control can be found on lesser Levantes. Editor-in-Chief Greg Migliore: Ferrari is ending its deal to supply engines to Maserati. That's a shame — for Maserati. The 3.8-liter twin-turbo V8 in the Levante Trofeo is a riot, and it gives this golden-retriever-hauling crossover the feel of a true Italian sports car. You might know this engine from the Ferrari Portofino. It's lightly modified and built on the same line in Maranello, Italy. Mash the gas and this thing emits a growl that grows more guttural as the revs build. It sounds pretty good at 3,000 to 4,000 rpm, which is about all you can sensibly summon in the suburbs. I've driven the twin-turbo V6, which is also solid and also supplied by Ferrari, but trust me, you want the V8. The rest of the Levante is attractive, though it's not the most practical thing around. I was able to get a rear-facing car seat in the back, and my toddler certainly enjoyed his first ride in a Maserati. Other thoughts: I like the elevated ride height, toothy grille and curvy fenders. The Levante is a compelling option in this expensive segment designed for Rich Uncle Pennybags. If that's you, don't scrimp with six cylinders. Go with the V8.

Share price falls on skepticism of Chrysler-Fiat five-year plan

Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.
Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.
The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.