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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.

Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.

2019 Dodge Charger SRT Hellcat gets some Demon goodies

The 2019 Dodge Charger SRT Hellcat has been revealed, along with details on the rest of the range. Though the new Charger doesn't look a whole lot different, there are a number of special upgrades, especially for the Hellcat. The least interesting changes are on the outside. The Hellcat and the R/T Scat Pack get a new grille with twin air intakes next to the headlights. The regular RT and GT get some sportier additions such as a hood scoop, rear spoiler, and some other revised body work. The Hellcat also now gets a matte black hood option, as seen on the gray car above. Under the skin are more interesting upgrades. The Hellcat raids the Demon parts bin for its "After-Run Chiller" that continues providing cooling to the intercooler after the engine has been shut off. This way you'll still get cool air for another run when you come back and fire it back up. The Charger Hellcat also gets the Demon's fancy "Torque Reserve" system to start generating boost right at launch. Both the Hellcat and the R/T Scat Pack also come with line lock for big smoky burnouts and "Launch Assist" for minimizing wheel hop and maximizing grip. Both cars have the same power and torque as last year's iterations, though. Dodge hasn't left out its lower-rung Charger models, either. The R/T now gets standard performance suspension and shift paddles, along with a 2.62 rear axle. The GT model is now available in rear-wheel drive, and it's being marketed as more of a performance-oriented trim for the V6. As such, it also gets the performance suspension as standard, a 3.07 rear end and shift paddles. The SXT rounds out the base of the lineup and now has an all-wheel-drive option. Output remains the same with these vehicles, and the GT continues to make 300 horsepower and 264 pound-feet of torque while the SXT makes 292 horsepower and 260 pound-feet. 2019 Dodge Chargers will start showing up on dealer lots in the third quarter of this year. If you're really eager to get one, dealers will be able to start ordering them by the end of June. Pricing hasn't been announced yet for the big sedan. Related Video: