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2018 Woodward Dream Cruise: What to know and where to go

If there's anything that proves Detroit's motor-oil-in-the-veins, gearhead bonafides, it's the annual Woodward Dream Cruise, which will bring an anticipated 1.5 million or so people from near and far, plus tens of thousands of classic and custom and just plain weird cars, to a 16-mile portion of Woodward Avenue on Saturday for the 24th year. Loved by gearheads, collectors and the merely curious, who see it as the Motor City's version of Mardi Gras, and loathed by others, who deride it as the world's largest traffic jam, the Dream Cruise is nothing if not an explosion for the senses. What will you see there? Well, as Autoblog Managing Editor Greg Rasa put it last year, "There are historic cars. And works of art. Some are worth vast sums of money, and some are rat rods and rust buckets. And some are bizarre creations that make you ask, 'What were they thinking?'" A few things are certain: You will see many incredible automobiles. There will be plenty of T-shirts and other merch, official and not-so-much. It will be crowded, and probably hot. The Cruise will officially go from 9 a.m. to 9 p.m., though of course cruisers have been out already for weeks. And there are plenty of attractions, both on and off the pavement of Woodward. Tony Michaels, the Dream Cruise's executive director, said the event is special for the Detroit region. "Together we celebrate the automobile and what it has meant to us," he told Autoblog. "To see the these fantastic vehicles and the proud owners says so much about who we are and our pride. "People should take it in to see history running 16 miles down Woodward Avenue and to be a part of the greatest automobile event in America." Ford is once again serving as the Dream Cruise presenting sponsor and will hold the 20th anniversary of the Mustang Alley at the corner of Nine Mile and Woodward in Ferndale, where it expects as many as 1,000 Mustangs to line up. It will also show off its lineage of trucks at 13 Mile, along with several performance vehicles at Duggan's Irish Pub at 31501 Woodward in Royal Oak. The company on Thursday unveiled the 2018 Mustang Cobra Jet drag car to celebrate the nameplate's 50th anniversary. Just 68 examples are planned of the $130,000 limited-edition model Other Ford activities include: Sales of tickets for a raffle of a one-off Kona Blue Mustang Bullitt, starting at the media clubhouse at 2 p.m. Friday. The raffle itself takes place in November and will support juvenile diabetes research.

FCA-Renault revival may hinge on willingness to cut Nissan stake

Fiat Chrysler Automobiles and Renault are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker's alliance partner Nissan, according to several sources close to the companies. Nissan is poised to urge Renault to significantly reduce its 43.4% stake in the Japanese company in return for supporting a FCA-Renault tie-up, two people with knowledge of its thinking also told Reuters. It is still far from clear whether any concerted effort to revive the complex and politically fraught deal can succeed. FCA Chairman John Elkann abruptly withdrew his $35 billion merger offer in the early hours of June 6 after the French government, Renault's biggest shareholder, blocked a vote by its board and demanded more time to win Nissan's backing. Nissan representatives had said they would abstain. The failure, which FCA and Renault blamed squarely on the French government, deprived both companies of an opportunity to create the world's third-biggest carmaker with 5 billion euros ($5.6 billion) in promised annual synergies. It also shone a harsh light on Renault's relations with Nissan, which have gone from frayed to fried since the November arrest of former alliance Chairman Carlos Ghosn, now awaiting trial in Japan on financial misconduct charges he denies. REVIVAL TALKS Italian-American FCA — whose brand stable encompasses Fiat runabouts, Jeep SUVs, RAM pickups, Alfa Romeo luxury cars and Maserati sports cars — has so far turned a deaf ear to suggestions by French officials that its merger proposal could be revisited. But since the breakdown, Elkann and his French counterpart Jean-Dominique Senard have had talks about reviving the plan that left the Renault chairman and his Chief Executive Thierry Bollore upbeat about that prospect, three alliance sources said. Renault and a spokesman for FCA declined to comment. One of Elkann's senior advisors on the Renault merger bid, Toby Myerson, was expected at Nissan headquarters in Yokohama on Monday for exploratory discussions with top management, two people with knowledge of the matter said. Nissan CEO Hiroto Saikawa is likely to attend. Myerson did not respond to a message from Reuters seeking comment. The meeting comes amid mounting strains that may preclude compromise, after Senard warned Saikawa that Renault was prepared to block key Nissan governance reforms in a dispute over board committees.

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.