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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.

2018 Jeep Wrangler might get power sliding roof panels

A user at JL Wrangler Forums snapped a few photos of a prototype 2018 Wrangler driving around, and one of the shots revealed some interesting switchgear. On the ceiling are a couple of handles that further confirm it will still have a multi-piece removable roof, something already expected when images of the truck leaked out. Just ahead of those handles is a binnacle of switches with no clear explanation for their existence. The folks at JL Wrangler Forums believe they have the answer. They suspect that the controls are for a Jeep Renegade-style My Sky roof. In case you forgot, the Renegade's My Sky roof is a cross between a sunroof and the Wrangler's removable roof. One of the panels can slide back like a sunroof, or it and a second panel can be pulled out entirely. The forum members believe the large center button and smaller buttons ahead of it are controls for sliding back either or both front roof panels. Of course the roof panels will still be removable, too. They also cite anonymous sources that say the forum's speculation is on the right track. A few years ago, rumors of a power top were circulating, too. We can certainly see this as a possibility. It would offer Wrangler owners the option of some open-air fun without requiring the unfastening of multiple latches and stowage of large roof panels. Although it would likely add plenty of cost, that won't be much of an issue for Jeep. It's already possible to spend remarkable amounts of money in heavily accessorized Wranglers, and Jeep doesn't have trouble getting them sold. We're still not completely convinced, though. It's also possible we could be looking at switchgear for overhead lights or other interior features, maybe even storage for sunglasses. We just can't be positive without getting a closer look at the switches. Also, there's at least one reason Jeep might want to avoid a feature like this. Power sliding top panels could add weight. Now Jeeps aren't amazing performers, save for the SRT and Trackhawk Grand Cherokees, so speed won't be an issue, but if the weight goes into the top panels, it could make top removal more difficult thanks to heavier components. We'll have to wait to find out for sure. Related Video:

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order: