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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.

2019 Dodge Challenger SRT Hellcat Redeye Widebody First Drive Review | Son of a beast

PORTLAND, Maine — They told us the Hellcat Redeye Widebody is a "Hellcat that's been possessed by a Demon." But what I'm telling myself is, Save it for the track. I hadn't even put the pedal all the way to the floor, and the world around me had warped in my peripheral vision. I peeled my skull from the headrest and contemplated the supercharger under the double-snorkel hood in front of me force-feeding air to the's 6.2-liter Hemi V8, producing a hair under 800 horsepower. With my stomach returning to its usual place, I tried to summon the patience not to roast the tires again. Relax, enjoy the drive, explore the car, and save the rest for the track. I tried to restrain myself from adding to the many strips of rubber already smeared across the hilly, meandering roads between Portland, Maine and Club Motorsports across the state line in New Hampshire. But then there's always another stop sign, and something possesses me to misbehave again as I pull away. The 2019 Dodge Challenger SRT Hellcat Redeye includes a number of borrowed features that helped the Dodge Challenger SRT Demon slap me in the back of the helmet back at Lucas Oil Raceway. It has the same displacement Hemi with a 2.7-liter supercharger providing 14.5 PSI of boost. That pressure is thanks in part to the "Power Chiller," which diverts the A/C refrigerant to cool the air intake. It offers the torque reserve system for explosive launches, as well as the strengthened driveshaft to handle it all. It won't do a wheelie, but it'll scream in your face as it hurls you straight to jail. Compared to the standard Hellcat, it gets a higher top speed of 203 miles per hour, and quarter mile times reduced by a precious tenth of a second (11.1 seconds at 131 mph for the standard Redeye, and 10.8 seconds at 131 mph for the Redeye Widebody). That said, Dodge has ensured that Demon reigns supreme in the Challenger hierarchy. For one thing, the Demon has 840 horsepower and 770 pound-feet of torque, compared to the Redeye's 797 horsepower and 707 pound-feet. The Demon's suspension is specifically tuned for the weight transfer characteristics of drag racing, and can lift its front wheels off the ground if you nail the launch with the narrow tires on it. Also, while the Redeye does have line lock to let the rear wheels spin while braking the front calipers, it doesn't get the Demon's transbrake to keep the car locked into position as throttle is applied for launch.

Killing the Dart and 200 might lower FCA's fuel economy burden

Killing the Dodge Dart and Chrysler 200 could allow FCA US to take advantage of an intriguing quirk in the next decade's fuel economy regulations. By increasing its ratio of trucks versus cars, the automaker might not need to worry so much about hitting the more stringent efficiency rules. At first thought, it might seem harder for an automaker with a ton of trucks to meet the government's mandated 54.5 mile per gallon corporate average fuel economy for 2025. However, every company doesn't need to hit that lofty figure, according to The Detroit Free Press. The exact target varies by the product mix between trucks and cars. "While passenger car and light truck categories have separate CAFE targets, it's still true that more trucks versus cars in a company lineup means a lower combined CAFE target," Brandon Schoettle, Project Manager Sustainable Worldwide Transportation at the University of Michigan Transportation Research Institute, told Autoblog. "While passenger car and light truck categories have separate CAFE targets, it's still true that more trucks versus cars in a company lineup means a lower combined CAFE target." FCA US' current product blend has 80 percent pickups and CUVs, which means the company stands to benefit from a lower fuel economy target. It might not seem entirely fair environmentally, but this is a great move from a business perspective. The new CAFE rules aren't set in stone, according to The Detroit Free Press, but potentially taking advantage of the regulation is just one more reason to cut the Dart and 200. Modern crossovers also aren't gas guzzlers like older SUVs, which could make it easier to hit the fuel economy target. "Utilities offer practicality and versatility that cars do not, and now, built on car architectures, they do not penalize consumers on fuel economy as they once did," AutoTrader Senior Analyst Michelle Krebs told Autoblog. Schoettle warns that FCA is still making a gamble by killing the small sedans. "Depending on the previous sales volumes and how much these vehicles might have exceeded their specific CAFE targets, it's possible that these cars helped earn CAFE credits for FCA that they could bank for future use," he said. "Future sales breakdowns [car vs.