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Fiat Chrysler CEO: No plans to sell brands to Chinese

DETROIT — Fiat Chrysler Automobiles (FCA) has no intention of breaking up the company or selling individual brands to China or other parties, the company's chief executive said on Monday at the Detroit Auto Show, adding that the group was counting on its coveted Jeep brand to drive future profits. "We're not going to break up anything," Chief Executive Sergio Marchionne said at a news conference at the Detroit Auto Show. "We have no intention of breaking it up and giving anything to the Chinese." Marchionne said the Jeep sport utility vehicle brand could help FCA double its net profit. FCA's portfolio also includes luxury Maseratis, sporty Alfa Romeos and tiny Fiats. FCA's share price has jumped more than 30 percent this year on a bullish outlook for the auto sector, Jeep growth expectations and speculation that Marchionne's final year at the helm could prompt strategic deals such as spinoffs, technology alliances and disposals. The popularity of the Jeep brand, which is targeting sales of 2 million vehicles this year, has prompted talk it could be spun off from the group, as happened with tractor maker CNH Industrial and supercar group Ferrari, or sold off. Rumors have resurfaced that Guangzhou Automobile Group might be interested in snapping up part of FCA. Marchionne said on Monday that while GAC has partnered to deliver Jeeps to the Chinese market and FCA is talking to the Chinese automaker about helping it enter the U.S. market, "none of these things are designed to impact on the independence of FCA." FCA has often been the subject of merger speculation, especially after its unsuccessful 2015 attempt to tie up with larger U.S. rival General Motors. Its share price jumped to record highs in August after reports of interest from China's Great Wall Motor Co and South Korea's Hyundai. Marchionne said while both Jeep and truck brand Ram are strong enough to exist on their own, "we need to talk about ... what will be left behind." Marchionne said he has recommended to the company's board that the automaker spin off Magneti Marelli, a maker of components for lighting, engines, electronics, suspension and exhausts, to shareholders by the end of 2018. Marchionne confirmed FCA's targets for 2017 and for 2018, including a plan to erase all debt and generate up to 5 billion euros ($6.14 billion) in net cash.

Ram and Jeep diesel emissions allegations spur class action lawsuits

This shouldn't come as a surprise. Last week, the EPA issued a notice of violation to FCA after it determined that Jeep and Ram installed eight undisclosed auxiliary emissions control devices on diesel vehicles. Since then US law firm Heninger Garrison Davis, LLC and Canadian firm Sotos LLP have launched class action suits on behalf of owners. These latest lawsuits are unrelated to a previous class action suit brought against FCA and Cummins over NOx emissions in 2007 to 2012 Ram models. The violation notice – and the subsequent lawsuits – covers 2014 to 2016 Jeep Grand Cherokee and Ram 1500 models equipped with the 3.0-liter turbodiesel V6, a total of about 104,000 vehicles in the US. The EPA says that while the emissions control devices aren't necessarily illegal, installing them without disclosing them to the EPA is, as they produce more emissions in real world use than in testing. Skirting certification in this way might be a violation of the Clean Air Act. FCA could see fines of up to $45,000 per vehicle, depending on the outcome of the EPA investigation. FCA denies that these are cheat devices, and has proposed software updates to bring the vehicles into compliance. As for the lawsuits, Heninger Garrison Davis says that "Fiat Chrysler marketed those vehicles as environmentally friendly with enhanced fuel efficiency, better performance, and lower emissions. Although the diesel vehicles were successfully marketed as 'clean,' their environmentally-friendly representations were deceptive to consumers." The suit seeks an undisclosed amount of compensation for owners of these vehicles. In Canada, Sotos LLP is seeking $250 million in damages on behalf of owners. This suit, filed in the Ontario Superior Court of Justice, also claims deception on the part of FCA, "resulting in losses and damage" to owners. These are similar claims to group actions against Volkswagen with regard to its diesel emissions cheating scandal. While VW is fixing or buying back many of the affected vehicles, the company is defending itself against some suits on behalf of owners, saying it expects " no decline in the residual values of the affected vehicles as a result of this issue." Don't be surprised if FCA mounts a similar defense.

New York Auto Show Special with the Ram REV, Kia EV9 and more | Autoblog Podcast #775

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start off with what it was like to be at the New York Auto Show, then provide analysis on all the big reveals. The big reveals touched on include the 2025 Ram REV, 2024 Kia EV9, Genesis GV80 Coupe Concept, 2024 Hyundai Kona variants, 2024 Subaru Crosstrek Wilderness and 2024 Jeep Wrangler. They also touch briefly on some non-NY news with a refresh of the Mercedes-Benz GLS-Class. Lastly, the two discuss the cars they've been driving, including the 2023 Mercedes-AMG EQE and our long-term Toyota Sienna minivan. Autoblog Podcast # 775 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown NY Auto Show 2025 Ram 1500 REV packs 650 horsepower, up to 500 miles of range Kia EV9 targets 300 miles of range, U.S. production at NY Auto Show Genesis GV80 Coupe Concept is coming to reality 2024 Hyundai Kona Electric and gas variants revealed with full specs at NY Auto Show 2024 Subaru Crosstrek Wilderness takes the hatchback to literal new heights 2024 Jeep Wrangler reveals more tech, refinement — and a cheaper 4xe News 2024 Mercedes-Benz GLS-Class gets a light update What we're driving 2023 Mercedes-AMG EQE Long-term 2023 Toyota Sienna Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2025 Ram 1500 REV packs 650 horsepower, up to 500 miles of range