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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Ram 1500 custom trucks for SEMA go high and low

For SEMA, Mopar only created two in-house custom 2019 Ram 1500 trucks, and they're fairly mild in terms of modifications, many of which are existing Mopar accessories. But at the very least they show two extremely different ways to upgrade a Ram, with one being an off-road-oriented Ram Rebel, and the other being a lowered, street-oriented truck. The latter mod has become a bit unusual in a world dominated by Raptors and ZR2s. We'll start by talking about the street truck, which is the only one of the two with its own unique name: Low Down. Its defining characteristic: It sits two inches lower than a standard Ram 1500. This was done with a concept lowering kit that Mopar does not offer. Another part not yet available is the hood, which features an aggressive scoop. Finally, inside are some concept aluminum pedals. There aren't plans for any of these to come to production yet, but you can be sure Mopar will be paying attention to the public's reaction, and if things go well, they could show up at a dealer near you. The other defining feature of the Low Down is its paint scheme, which is black over silver, with a stripe separating them painted in the same Brass Monkey bronze hue available on some of FCA's wheels. The factory Ram wheels also get a custom paint scheme. Aside from the special parts and custom paint, almost everything else is right out of the Mopar catalog, including the fender flares, bed cover, spray-in bedliner, 5-inch exhaust tips and cold-air intake. The Mopar-customized Ram Rebel doesn't get a fancy name, but it still gets plenty of tweaks. It uses the factory Ram lift kit, so it sits two inches higher than a stock Rebel. It also features 35-inch tires. Up front, there's the concept hood found on the Low Down. At the back of the bed, there's a new flashy matte black decal that will be available for Ram Rebels in the near future. The bed also has an available "Rambar" sport bar, with some Mopar auxiliary lights. The bed has a spray-in bedliner and a concept spare tire carrier. Out the back are the same 5-inch exhaust tips as on the Low Down. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Detroit Three's lucrative pickup war intensifies as Ram makes big gains

DETROIT — The battle for profits from sales of large pickup trucks is intensifying among the Detroit Three automakers as sales of small cars in the United States shrivel. For decades Ford has had the single best-selling truck brand in its F-Series trucks. General Motors' Chevrolet brand was a solid No. 2, and Fiat Chrysler Automobiles' Ram was a distant third. Now, that hierarchy may be in flux. Sales figures for December and the fourth quarter released on Thursday show Ram tied with GM's Chevy for the No. 2 spot, as sales of the redesigned Ram pickup surged, fueled in part by demand for an optional 12-inch (30.48 cm) dashboard screen. Chevy not long ago held second place to Ford by a wide margin. GM executives said on Thursday they are bullish on their new GMC and Chevy trucks for 2019.Related: How the Detroit Three's pickups compare on paper 2019 Ram 1500 Laramie review 2019 Chevy Silverado 2.7L four-cylinder review 2019 Ford F-150 2.7L EcoBoost review "There's no doubt this segment (pickup trucks) is one of the epicenters of the auto wars," said Sandor Piszar, director of marketing for Chevrolet at GM. "It's been that way forever, and we wouldn't have it any other way." On Wall Street, investors give electric car leader Tesla a higher valuation than any of the Detroit automakers. But in the nation's heartland, big pickups remain far more popular and profitable than any electric car — and most other consumer vehicles of any kind. Large pickups generate at least $17,000 a vehicle in pretax profit for GM, the company has indicated in disclosures to investors. By contrast, many Detroit Three sedans are so unprofitable, their manufacturers have decided not to build them anymore. 'Hotly contested' Sustaining sales and pricing in the large-pickup segment will be critical in a year when most forecasters expect overall U.S. car and light truck sales to fall. Ford's U.S. sales chief, Mark LaNeve, on Thursday called the F Series "the backbone of our franchise" during a conference call, and added the "segment will continue to be strong, but hotly contested" in 2019. Automakers are banking on pickup truck sales to stay strong even if U.S. interest rates continue to rise. Rising interest rates translate into higher monthly car payments and are expected to deter some buyers in 2019. GM has said 27 percent of Chevrolet and GMC trucks — which can haul trailers by day and substitute for a luxury sedan by night — sell for more than $55,000.