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China's Great Wall confirms its interest — in Jeep, or all of FCA

HONG KONG/SHANGHAI — Chinese automaker Great Wall Motor reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker. China's largest sport utility vehicle manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned to contact FCA to discuss acquiring the Jeep brand specifically. Those comments sent FCA shares higher but also raised questions over the ability of China's seventh-largest automaker by sales to buy larger Western rival FCA, or even Jeep, which some analysts value at as much as one-and-a-half times FCA. Great Wall sought to dampen speculation on Tuesday. It confirmed it had studied Fiat Chrysler, but said there was "no concrete progress so far" and "substantial uncertainty" over whether it would eventually bid. "The company has not built any relationship with the directors of FCA nor has the company entered into any discussion or signed any agreements with any officer of FCA so far," the company said in an English-language stock exchange filing. It did not give further detail. Fiat Chrysler stock dipped on the statement on Tuesday. Great Wall said trading in its Shanghai-listed shares would resume on Wednesday after having been suspended. Fiat Chrysler declined to comment on Great Wall's statement. On Monday, it said it had not been approached and was fully committed to implementing its current business plan. FLUSHING OUT RIVALS? Great Wall Motor, which was early to spot China's love of SUVs, had revenue of $14.8 billion last year and sold 1.07 million vehicles - but that compares with FCA's 2016 revenue of 111 billion euros ($130.6 billion). Analysts said Great Wall would need to raise both debt and equity to complete any deal, meaning its chairman Wei Jianjun could lose majority control. One possible scenario, according to analysts at Jefferies, would see Wei keeping a roughly 30 percent stake, while Great Wall would raise $10-$14 billion in debt and $10 billion in equity - hefty for a group currently worth just $16 billion. Ultimately, politics could be the clincher.

VW Golf R, Ram Power Wagon and Subaru Forester | Autoblog Podcast #591

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Road Test Editor Reese Counts. After some talk about sponges and other randomly received oddities, this episode is all about the cars we've been driving, including the new Subaru Forester, VW Golf R (which is going on hiatus), BMW M340i xDrive and Ram Power Wagon. Then, they take to the mailbag to help a listener pick a sporty new car in the "Spend My Money" segment. Autoblog Podcast #591 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Sponges, really? 2019 Subaru Forester Sport 2019 Volkswagen Golf R 2020 BMW M340i xDrive 2019 Ram 2500 Power Wagon Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:  

2021 Ram 1500 TRX Launch Edition sells out in three hours

The 2021 Ram 1500 TRX Launch Edition is officially sold out. In fact, it’s been sold out for a little while now. Ram announced today that all 702 trucks were spoken for just three hours after order books opened. Only 702 Launch Editions will ever produced for the U.S. market, the number being a nod to the amount of horsepower its 6.2-liter supercharged V8 produces. All will be painted in a unique Anvil Gray paint that wonÂ’t be offered on regular Ram TRXs. TheyÂ’ll also have a red and brushed aluminum center console badge that identifies it as a Launch Edition truck. ItÂ’s similar to the badge found on the standard TRX interior, but Ram spruced it up a bit for the Launch Edition. Additionally, all Launch Editions will be loaded to the gills with features. It comes with the TR2 (highest) equipment pack, carbon fiber interior trim, color accent package, head-up display, beadlock-capable wheels, 19-speaker Harman Kardon sound system, panoramic sunroof and body side TRX graphics. All this, and it costs $90,265. “We said the Ram 1500 TRX Launch Edition would go fast. And we meant that in more ways than one,” said Mike Koval Jr., Head of Ram Brand. Good one, Ram. There is no limit on regular Ram 1500 TRXs, so if you want one, you can go ahead and order it up. The truck starts at $71,690, so bring your extra-deep wallets. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.