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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.

Chrysler recalls 88,888 Darts, Durangos, and Grand Cherokees for two separate issues

Chrysler announced a pair of recalls for the Dodge Dart, Durango, and Jeep Grand Cherokee. They're unrelated, as the Dart recall concerns windshield washer pumps, and the Durango and Grand Cherokee recall is for fuel rails. But, as Automotive News discovered, the number of cars involved in both totals up to 88,888 cars, which is rather bizarre. Breaking down the coincidental number, we first have 34,633 2016 Dodge Durangos and Jeep Grand Cherokees recalled because fasteners on the intake manifold can come into contact with the fuel rail on some vehicles. This could lead to a fuel leak, and a subsequent fire hazard. Chrysler believes only 30 vehicles will have this defect, but it's inspecting any that could have had the issue. The other part of the 88,888 cars recalled in total consists of 54,255 2016 Dodge Darts. The windshield washer pumps on affected cars could short-circuit the wiper system, disabling the wipers. Chrysler will notify owners of all vehicles, and will replace any faulty parts at no cost to the owner. Owners can also contact Chrysler's customer care center at 1-800-853-1403. Related Video: News Source: FCA, National Highway Traffic Safety Administration via Automotive News Recalls Weird Car News Dodge Jeep SUV Sedan

Widebody Challenger Hellcat spotted with no camouflage

Well this is a mightily mysterious muscle car. One of our photographers caught this Dodge Challenger out testing without any camouflage. At first glance it looks like an SRT Demon, since it has the same widebody flares and front spoiler of the hellacious Challenger. However, the hood is from a garden-variety Hellcat (as if such a thing existed...), the rear spoiler has an SRT Hellcat badge, and the wheels don't come from the kitty or the Hellspawn. We have two theories as to what this SRT mishmash may be. Our first is that this is perhaps a next-generation Hellcat that takes advantage of some of the Demon's developments. It could have a more potent engine under the hood, perhaps with the extra fuel pumps and air-conditioned intercooler, along with the Demon's beefier driveline. It would be a way to keep the Hellcat relevant, and a way for people who might miss out on the one-year-only Demon to get the next closest thing. Our other theory is that this is an all-wheel-drive Hellcat. The wide fender flares and chin spoiler appeared on an all-wheel-drive Challenger concept before they made their way to the Demon. And with the introduction of the Grand Cherokee Trackhawk, we know that Mopar has an all-wheel-drive system that can handle the grunt of the 707-horsepower Hellcat mill. If an all-wheel-drive Hellcat is in the cards, it would be another way to keep the Hellcat line fresh without too much investment, and would be a treat for fans of the old all-wheel-drive concept. It would also probably be a great seller here in snowy Michigan. Oh, and it would certainly post some amazing 0-30 acceleration times. Related Video: