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Hyundai reportedly eyeing a takeover of FCA

The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover

Jeep reveals Grand Cherokee SRT Night, Wrangler Backcountry

Another major car show is almost upon us, and you know what that means. That's right, boys and girls – another pair of custom Jeeps. Far be it from us to complain, though, especially when the pair of SUVs debuting at the LA Auto Show this month aren't just for show. These will actually be offered to the public as new special editions. In one corner we have the Jeep Grand Cherokee SRT Night edition, with all the brightwork replaced with black. The roof, rear spoiler, front grille bezels, pillars, and window surrounds are all done up in gloss black, while the wheels – custom 20-inch jobs – as well as the front applique and badging have all been given a satin black treatment. The interior, as you might have guessed, is also predominantly black, with black leather, black chrome bezels, and silver stitching. Buyers will be able to choose between deep red, silver, or dark gray exterior colors, but either way they'll be getting the same 6.4-liter V8 – all 475 horsepower and 470 pound-feet of it. In the other corner is the Jeep Wrangler Backcountry. This one's based on the Wrangler Sahara and features a special off-road front bumper, powder-coated rear bumper, and the 17-inch wheels and rock rails from the Wrangler Rubicon. The interior features piano-black trim, leather and mesh seats, vinyl accents, nine-speaker Alpine sound system, and more. It'll be available in five colors – blue, black, white, gray or purple – with special graphics (because nothing says "backcountry" quite like neon pink decals on a purple Jeep) and a standard black (or optional body-colored) hardtop. The Wrangler Backcountry will be reaching dealers around the same time as its live debut towards the end of this month. Don't expect to see the GC Night edition on the streets until early next year, though. Pricing for either has yet to be announced, but you can scope out the details of both in the press release below. Jeep® Introduces Two New Special-edition Models at the Los Angeles Auto Show - New 2016 Jeep® Grand Cherokee SRT Night boasts stealth-like premium black appearance, with black roof and lightweight performance wheels - New 2016 Wrangler Backcountry delivers enthusiasts a unique Jeep SUV loaded with off-road capability features to tackle the toughest winter months November 12, 2015 , Auburn Hills, Mich.

Weekly Recap For 5.20.16 | Autoblog Minute

Senior Editor Greg Migliore recaps the week in automotive news, including a look at the Aston Martin Vanquish Zagato, two Volvo concepts, and the FCA Jeep airbag recall.