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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.

Alfa Romeo will gain a Jeep Compass-based SUV

It was reported earlier this week that FCA would invest into its Italian factories to ramp up production at currently underutilized locations. Those plans have now been clarified with official information from FCA, as reported by Automotive News. The entire investment is worth $5.7 billion. First of all, Alfa Romeo will gain a new compact SUV based on the Jeep Compass architecture. The still-unnamed model will be available as a plug-in hybrid, and it will be built in Pomigliano, Italy. No U.S. availability has yet been announced, but it would not be odd to see the Compass-based model sold below the Stelvio in the States. The last time Alfa Romeo had anything similar in its model portfolio was when it offered Crosswagon-badged four-wheel-drive versions of the 156 and 159 wagons. As for the Jeep Compass itself, it will begin to be built at the Melfi plant in Italy. The rumored small "baby" Jeep slotting under the Renegade has not yet been officially mentioned. Fiat will introduce a battery electric 500, built in Turin, and the Pomigliano plant that will make the compact Alfa Romeo SUV will also be used to build a mild hybrid version of the Panda city car. The 500X will gain a PHEV variant. The Stelvio platform will also spawn a corresponding SUV for Maserati, and FCA also mentioned Maserati will introduce a new, unnamed model it will make in Modena. Automotive News quotes Italian press as saying this will be the Alfieri coupe and convertible, also offered as battery electric versions. Related Video:

Maserati Levante production starting next year, Alfieri could come within 28 months

Maserati is on a roll. The new Ghibli and Quattroporte have been huge successes, and it unveiled the gorgeous Alfieri concept (pictured above) at the 2014 Geneva Motor Show. The next step for the brand is getting the Levante crossover into production.
"We are getting Mirafiori ready for production [of the Levante]. The first bodies are expected for 2015," said Fiat CEO Sergio Marchionne to Reuters in Geneva. He also said that there isn't much keeping the Alfieri off the streets. "The platforms and motors are there. Technically, production could start in 24-28 months," he said. However, Marchionne refused to say whether the company would actually give the concept a green light to be built.
Fiat hopes to be profitable again by 2016, and while its acquisition of Chrysler is certainly going to help, rejuvenating Alfa Romeo and Maserati are also a major part of the plan. In 2013, the Italian luxury brand saw sales more than double to 15,400 vehicles. Maser is still far away from its goal of selling 50,000 units by 2015, but it's quite a start. Fiat bought Maserati in 1993, but business went through a decade or more of doldrums and falling sales. It appears that the century-old brand is finally finding a path forward with some gorgeous new cars.