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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.

Dodge Hellcats getting price hike

Dodge plans twice as many Hellcats on the road for the 2016 model year, they are going to be a bit more expensive when buyers sign on the dotted line. According to CarsDirect and confirmed to Autoblog by Dodge, 2016 Challenger SRT Hellcat costs $65,190, an increase of $4,200 over 2015. That figure includes $995 for destination and $1,700 for the Gas Guzzler charge. The latest Charger SRT Hellcat retails for $68,640, a $3,650 increase. Other SRT trims of the muscle cars also see a price hike. The 2016 Challenger SRT 392 is $51,190, after destination and a $1,000 guzzler charger – a $3,500 increase. The Charger SRT 392 also jumps $3,000, to $51,990. Even at 2015's prices, Dodge was having problems keeping up with demand for the Hellcat, and the higher price isn't likely to change that. And before you think the company is going plum crazy, the 2016 models of all four muscle cars come standard with Laguna leather seats and navigation. According to company spokesperson Dan Reid to Autoblog, both items had a "very high customer take rate," and the previously optional features are valued at $2,490. Dodge previously announced a discount for those who had a sold 2015 Hellcat order canceled in the switch to 2016. Those amount to $5,000 on the Challenger and $4,000 Charger, which seems like a sweet deal for those customers. Related Video:

Dodge Viper plant will close for good Aug. 31

It has been a long time coming, an end rumored since at least 2015, but after 25 years, the Dodge Viper's demise is nigh. Production of the $90,000 bespoke sports car is ending. Therefore, FCA will be shutting down its Conner Assembly Plant on Aug. 31. Automotive News reports that the Detroit plant will be shutting down. The car has been hand-built there since 1995, save for a hiatus in 2010-13 (production began at FCA's Mack Plant in 1992). The Prowler was built there, too, from 1997 to 2002. More than 80 workers currently build the Viper, making Conner FCA's smallest assembly facility. But not many Vipers are sold - 630 last year - despite an enthusiastic following. And of course FCA's own 707-horsepower Dodge Challenger and Charger SRT Hellcats and new 840-horsepower Challenger SRT Demon can't help matters. But the last straw is the fact the Viper can't comply with new safety requirements going into effect. On the bright side, the UAW has seen the plant closure coming since 2015, and FCA has told the state of Michigan that it expects to find positions at other plants for the Viper crew. FCA has been celebrating the Viper valedictory for a couple of years now, offering serialized special editions, including the $121,000 Viper ACR, and touting the ability to build unique Vipers with its "1 of 1" customization program, with a choice of 16,000 unique paint colors and 48,000 unique stripe combinations. Related Video: