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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Three Ram recalls affect more than a million pickups

Millions of Ram pickups across many of its model lines in the US are in need of recall repairs due to three campaigns by the truck maker. The largest of this trio covers 1.06 million examples in the US of the 2012-2014 Ram 1500, 2500, 3500, and chassis cab versions of the 3500, 4500, and 5500 because of potential inadvertent driver-side airbag deployment. In addition to those affected here, there are 235,925 in Canada, 26,543 in Mexico, and 23,635 elsewhere. There are also two related injures from this problem, but no reports of accidents, according to the company. While the recall was mysteriously ignored in the media at the time, the National Highway Traffic Safety Administration announced details of this campaign in late July. The next largest among the three covers 188,000 examples of the 2014 and 2015 Ram 1500 Quad Cab in the US because their side-curtain airbags don't fully overlap the C-pillars when deployed, which is in violation of federal rules. Conceivably, rear passengers not wearing their seatbelt could be more likely to be ejected in a crash. Ram's repair for the issue is still being developed, according to the National Highway Traffic Safety Administration, but the company advises all occupants to be buckled in. The final campaign affects 156,498 the company's heavy-duty trucks in the US, including the 2013 Ram 3500 and 2014 Ram 2500, 3500, and 3500 Chassis Cab. In addition, there are 20,603 in Canada and 3,241 elsewhere. Of the 13,236 in Mexico, a few units of the 2014 Ram 1500 exclusive to that market are also covered. The company found that the welds for some steering parts might have "insufficient fusion." If the part breaks, then vehicles are still controllable but with diminished response. There are no reported injuries but one minor accident. The fix involves installing a reinforcement bracket. Related Video: Statement: Steering-wheel Wiring Harness September 10, 2015 , Auburn Hills, Mich. - FCA US LLC is conducting a voluntary safety recall to inspect and service, as required, wiring harnesses in an estimated 1.06 million U.S.-market trucks. Investigation by FCA US discovered certain trucks may have steering-wheel wiring harnesses that wear because of contact with a spring. Such wear may cause a short-circuit that may lead to inadvertent driver-side air-bag deployment. The Company is aware of two related injuries, but no accidents.

2019 Ram 1500 prices released: What pickup will cost, by trim

One of the final pieces of information about the 2019 Ram 1500, and one of the most important, is finally here: the price. A base model Ram Tradesman, which nets a V6, the smaller four-door cab, a 6-foot 4-inch bed and two-wheel drive, starts at $33,340 with destination charge. That's a a bit over $1,000 more than the cost of the same outgoing Ram 1500 Tradesman. But you'll also get new features such as the eTorque mild-hybrid system and a touch-screen infotainment system with Uconnect. At the other end of the spectrum, the top-rung Ram 1500 Limited Crew Cab 4X4 V8 now starts at $59,035, an increase of almost $4,400 over the old model. Although the base price of the most basic and the most opulent Ram 1500s have gone up, some other things have become cheaper. You won't have to pay as much to upgrade to a V8, for instance. The plain 5.7-liter V8 with its 395 horsepower is $255 cheaper now, costing $1,195. To get that engine with the eTorque system costs more at $1,995. The RamBox bed-side storage bins are $300 cheaper now at $995. The Rebel trim has a better entry-level price, too. The base version with the smaller cab, four-wheel drive (the only drivetrain available with the small cab) and V6 with eTorque starts at $46,340. That just slips under the $46,690 price of the outgoing base Rebel with two-wheel-drive, and is over $2,000 less than the old Rebel with four-wheel drive that started at $48,790. Of course, the outgoing model was only available with the larger "Crew Cab" four-door body. Adding that larger body to the new Rebel will probably offset the cost savings. Here's the entire 2019 Ram sheet of base prices by trim/configuration: Related Video: