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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.

Tesla Model S P85D shows 707-hp Dodge Challenger Hellcat how to drag race

Street Car Drags hosted a bang-up event at the Palm Beach International Raceway last weekend, with a list of massive horsepower ICE cars going up against one another and a trio of Tesla Model S P85Ds. One of those duels pitted the 691-horsepower Tesla against a 707-horsepower Dodge Challenger SRT Hellcat, and the result was an old-school beatdown and a world record for electric cars. The Model S P85D ran the quarter in 11.6 seconds at 114.6 miles per hour, the new mark for BEVs at the drag strip. Proving its pace, it ran three more times in 11.69, 11.72 and 11.76 seconds. It got from the start line to 60 miles per hour in 3.1 seconds. The Hellcat, well, it wasn't a race, really. It was the Hellcat's driver's first time at a drag strip and his first time trying to launch it, so after an excellent burnout ahead of the lights, he rolled to the line, almost jumped the start, balked at the real start and spun his tires for the first 100 feet down the strip. The theory is that he overheated his street tires during that burnout, and the resulting greasy rubber did what greasy rubber does. By the time he got to the other end 17.46 seconds later the Tesla driver had showered and was enjoying a funnel cake. When things go right, though, Dodge estimates the Hellcat will do 11.2-second runs on street tires and it has been clocked at 10.85 seconds at 126.18 mph on street-legal drag radials. There's video of the not-quite-a-race above, and Drag Times says there'll be a rematch between the two in a couple of weeks. News Source: Street Car Drags via YouTube Green Motorsports Dodge Tesla Coupe Electric Luxury Performance Videos Sedan drag racing dodge challenger srt hellcat

Dodge performance trio thrashed on Roadkill

Of all the shows that Motor Trend does, Roadkill is probably the last one we'd pick to evaluate the latest performance automobiles. That's not a slight against David Freiburger or Mike Finnegan, who host the show: they're certified gear-heads and the go-to guys when it comes to hot rods, rat rods and anything grungier than it is shiny. But as exemplary as they are of Detroit muscle, the Charger Hellcat, Challenger Hellcat and Viper are also shiny new pieces of metal. Still, since it will now be sponsoring the show, someone at Dodge apparently thought it would be a good idea to hand Freiburger and Finnegan the keys to the company's top performance models. So to ring the best out of them, they solicited help from some of their colleagues at MT, gained access to a closed-down air strip, devised as many ways as they could to destroy the tires, and proceeded to set about doing exactly that. Watch the grin-inducing mayhem unfold in the half-hour clip above. Related Video: