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Fiat Chrysler open to mergers, and PSA is looking for one

GENEVA — Fiat Chrysler (FCA) is open to pursuing alliances and merger opportunities if they make sense, but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley said on Tuesday. "We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future, I will look at that," Manley told reporters at the Geneva Motor Show. Asked whether he would consider selling Maserati to China's Geely Automobile Holdings, as suggested by recent media reports, Manley said: "Maserati is one of our really beautiful brands and it has an incredibly bright future. ... No." FCA is often cited as a possible merger candidate. Bloomberg said this week that the Italian-American carmaker was attractive to France's PSA Group given its exposure to the U.S. market and its popular Jeep brand. The Detroit News' headline on the situation Friday read, "Fiat Chrysler CEO open to a deal as PSA circles" and stated that Manley's open-to-just-about-anything comments were aimed directly at PSA. Bloomberg said talks between the two were preliminary and said PSA chief Carlos Tavares has also contemplated mergers with General Motors or Jaguar Land Rover, which is losing money for Indian owner Tata. PSA has enjoyed a decade of turnaround and has $10.2 billion in net cash available. The maker of Peugeot, Citroen and DS, acquired Opel and Vauxhall in 2017 and made them almost instantly profitable. Manley, who took over after the death of Sergio Marchionne, said he currently had no news on possible deals. Manley also said the world's seventh-largest carmaker, which is lagging rivals in developing hybrid and electric vehicles, would take the least costly approach to comply with increasingly more stringent European emissions regulations. "There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines," he said. "I don't see a scenario when (carmakers) continue to subsidize technologies ... indefinitely." The carmaker had said last June it would invest 9 billion euros ($10.19 billion) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations. Asked about a 5-billion-euro investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

Gary Cooper's 1935 Duesenberg SSJ fetches record price at Pebble Beach

The 1935 Duesenberg SSJ formerly owned by Gary Cooper sold for a jaw-dropping $22 million over the weekend at the Gooding & Co. Pebble Beach auction, setting a record for the most valuable pre-war car ever sold at auction. It also appears to have become the most expensive American collector car ever sold at auction, eclipsing the very first Shelby Cobra ever made, which sold for $13.75 million in 2016. The Duesenberg was also the lone American-made entrant in the list of top 10 sellers, which was crowded with the names Ferrari and Porsche. You have to go all the way down the list to No. 21 to find the next American car: a 1930 Packard 734 Speedster Phaeton, which sold for a mere $1.127 million. All told, Gooding & Co. said it realized more than $116.5 million in auction sales over the weekend, with a whopping 25 cars sold for north of $1 million, an 84 percent sales rate and an average transaction price of $947,174. Clearly this is how the other half 1 percent lives. Gooding & Co. said there were five world-record sales at the auction. Joining the Duesenberg were a 1955 Ferrari 500 Mondial Series II, which sold for $5.005 million; a 1958 Ferrari 250 GT Tour de France Berlinetta, $6.6 million; a 1967 Ferrari 330 GTC Speciale, $3.41 million; and a one-of-two 1966 Ferrari Dino Berlinetta GT, $3.08 million. Oh, and that 1969 Ford Bronco test vehicle we told you about? The one that was rebadged by Holman & Moody as a Bronco Hunter? It sold for $121,000, which was well below the expected range of $180,000 to $220,000. Perhaps it was the presence of all those gorgeous Porsche Spyders and Ferraris that meant collectors weren't interested in boxy, utilitarian off-roaders. View 24 Photos Gooding and Co. had expected the convertible Duesenberg coupe to go for more than $10 million. It was one of only two of its kind built by Duesenberg — the other having gone to Clark Gable — with a specially shortened, 125-inch wheelbase and a supercharged straight-eight with double overhead cams, able to produce around 400 horsepower and a top speed of 140 miles per hour. It features a lightweight open-roadster bobtail body produced by LaGrande out of Connersville, Ind. The car was also owned at one point by race driver Briggs Cunningham.

Maserati GranTurismo Folgore teases itself around Monterrey

Maserati began teasing the GranTurismo Folgore toward the end of Car Week on Twitter and Instagram with a caption that read, "A rose gold wrap suited to the Golden Coast. Impossible to keep it secret. We’re touring California with the new GranTurismo Folgore and an audacious Italian-American entertainer. The air is electric. Keep following us down this road." Maserati seems to have meant the line about not keeping secrets more literally than one would expect, because it nonchalantly parked an uncamouflaged car in the same rose gold wrap at a charging station on the Monterey peninsula before the teases began. It had been thought that the automaker might debut the coupe over the weekend, which could have happened. Autocar says the Italians hosted a private preview for potential customers — that, apparently, was the secret.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Maserati teased a different prototype draped in a blue wrap earlier this year before the Formula E grand prix in Rome. This version, with its Homeric rosy hue and quasi-three-spoke wheels is what we've been waiting for. We like what we see. Yes, it's highly reminiscent of the GranTurismo that went off the market in 2019. Why should that bother us? That coupe is still beautiful. From what we can tell of the Folgore, the updated lines should make the coming EV even more so. Guests at that putative private event might know what powers the 2+2, but we don't. We know the battery-electric Grecale crossover will get an EV powertrain with 590 horsepower, the much more expensive GranTurismo should handily outdo that even if it doesn't touch the 1,200-hp figure some believe possible. We expect to get that info when the official debut happens in the coming months. The official GranTurismo Folgore launch is scheduled for next year, probably joined sometime in the year by its droptop sibling, the GranCabrio Folgore. It's thought there will be an ICE-powered version for the two-door as well, maybe offering the choice of an unaided 3.0-liter Nettuno V6 or a hybrid centered around the V6 or a 2.0-liter four-cylinder. Certain markets sell the Ghibli sedan with a 2.0-liter hybrid; however, that option is viewed as a long shot for the new GranTurismo.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.