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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.

Hackers arrested after stealing more than 30 Jeeps in Texas

This article has been updated with details on how the thefts were carried out, and with comments from FCA. It seems the news regarding vehicle hacking continues to get worse, especially when it comes to products from Fiat Chrysler Automobiles. Last year, a Jeep Cherokee in St. Louis, Missouri, was wirelessly hacked from Pittsburgh. Nissan had to shut down its Leaf app because of vulnerabilities. Now, a pair of hackers in Houston, Texas, stole more than 30 Jeeps over a six-month period. The two were arrested by police last Friday while attempting to steal another vehicle. ABC 13 in Houston reports that police had been following Michael Arcee and Jesse Zelay for several months but were unable to catch them in the act until now. The two were using a laptop to connect to and start a vehicle. The thieves were able to access Fiat Chrysler's own DealerCONNECT software. After entering the vehicle identification number, the hackers were able to reprogram the cars' security systems to accept a generic key, according to The Houston Chronicle. Additionally, Automotive News reports that FCA subsequently updated the terms of use for its DealerCONNECT program. These thefts were not related to the UConnect remote hacks from last year. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In April, this surveillance video showed the theft of a Jeep Wrangler Unlimited. It was this footage that first led the police to Arcee and Zelay. The police began to follow and record the pair. That investigation eventually led to Friday's arrest. Both are charged with unauthorized use of a motor vehicle. In addition, Arcee is charged with felon in possession of a weapon and possession with intent to deliver a controlled substance. According to ABC 13, Homeland Security is investigating more than 100 stolen FCA vehicles that they believe were hacked using this method. After their theft, the vehicles were brought across the border to Mexico. FCA is currently conducting an internal investigation into the matter. After this article was posted, the company reached out to Autoblog, stating "FCA US takes the safety and security of its customers seriously and incorporates security features in its vehicles that help to reduce the risk of unauthorized and unlawful access to vehicle systems and wireless communications. FCA US has been cooperating with Houston Police Department since they first started the investigation.

Chrysler Recalling 700k Vehicles For Ignition Switch Woes

General Motors isn't the only automaker with ignition switch problems. Chrysler is fighting it too and is now announcing a recall of 695,957 examples worldwide of the Chrysler Town & Country and Dodge Grand Caravan minivans from the 2008-2010 model years, plus the 2009-2010 Dodge Journey. According to a statement from Chrysler, the models have a bad wireless ignition node detent ring in the ignition switch, making it possible for drivers to appear to have the key in the "Run" position but for the spring not to fully engage. It can then slip back to the "Accessory" position and shut the car off. If this happens, the vehicle loses power steering, brake boost and the airbags. There is some disparity about the number of vehicles affected under this recall. In its statement, Chrysler claims that it covers 525,206 vehicles in the US, 102,892 in Canada, 25,591 in Mexico and 42,268 elsewhere. However, the recall announcement posted by The National Highway Traffic Safety Administration lists an estimated 438,109 vehicles in the US. Chrysler spokesperson Nick Cappa told Autoblog via email that the reasoning for the different figures "will become clear at a later date." To fix the problem, Chrysler will install a new detent ring in the vehicles. It will begin contacting owners soon, and obviously the repair will be free of charge. This isn't the first time this problem has cropped up in these models. Chrysler issued a recall for 248,437 vehicles in 2011 for certain 2010 model year examples. A few weeks ago, NHTSA also began investigating the 2008-2010 model years of the affected models for ignition switch problems. At this time, it's not clear whether that evaluation and this campaign are linked. Chrysler told Autoblog that it has no reports of injuries related to the problem. Scroll down to read the company's statement and the NHTSA recall report. Statement: Expansion of Wireless Ignition Node (WIN) safety recall July 1, 2014 , Auburn Hills, Mich. - Out of an abundance of caution, Chrysler Group is expanding a previous safety recall to install a more robust WIN module detent ring. A previous recall in 2010 included 196,000 Chrysler Town & Country, Dodge Grand Caravan and Dodge Journey vehicles built August 2, 2009 through June 17, 2010. The expansion includes an additional 695,957 vehicles manufactured January 29, 2007 through August 1, 2009.