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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.

2017 Ram 2500 Power Wagon demos off-road abilities in Chicago

In today's world, big budget auto show debuts involve lots of music and video, with a car docilely rolling onto the stage. Practical demonstrations of abilities are few and far between. Ram didn't get that memo, though, and decided to give attendees at the 2016 Chicago Auto Show a taste of just what the new Power Wagon can do off road, showing some extreme suspension articulation before crawling the big pickup down a flight of stairs. It was an impressive display for the facelifted pickup, which retains all the things that made the Power Wagon such a monster while improving on its overall aesthetic. The two-tone styling looks great in person, and even the controversial grille – which many of our readers cited as being a problem in our debut post – looks nicer in the flesh than in static shots. The upholstery, too, with its tire-tread imprints looks better in real life, and we're digging the Power Wagon and Ram logos sprinkled around the high-riding thrones. You can read a deeper dive into the new new truck in our introduction post from early this morning. We've also got a smattering of images of the new Power Wagon on the show floor and a video of the flashy debut in Chicago. Have a look. View 18 Photos Show full PR text New 2017 Ram Power Wagon – The Ultimate Off-road Truck Benefits From New Design New 2017 Ram Power Wagon front grille design styling super-sizes Ram 1500 Rebel Tops Ram – "The Off-road Truck Leader" – 4x4 lineup New colors, lighting, wheels, grilles and legacy graphic takes cues from 1979-80 "Macho Power Wagon" New interior colors and materials, including Diesel Gray and Black seats with tire tread-matching pattern Unique 17-inch wheels and 33-inch Goodyear Wrangler DuraTrac tires pull dirt from its comfort zone Standard 6.4-liter HEMI® V-8 with best-in-class 410 horsepower and 429 lb.-ft. of torque features unsurpassed powertrain warranty – five years/60,000 miles Unique Ram "Articulink" front suspension system incorporates high movement joints and sway-bar disconnecting system, allowing for additional flexibility and axle articulation Ram engineering continues to lead heavy-duty segment innovation with five-link coil rear suspension to deliver best-in-class ride and superior axle control Ram Power Wagon features standard front and rear electronic-locking differentials for true four-wheel drive and maximum traction Standard Warn 12,000-lb.

There's an impending shortage of new trucks in America's heartland

URBANDALE, Iowa — Jerry Bill is worried the novel coronavirus could hurt business at the Des Moines auto dealership he runs, but not because of a shortage of buyers for the big Ram pickups on his lot. "Our biggest issue will be if we don't get more inventory," said Bill, general sales manager of Stew Hansen Chrysler Dodge Jeep Ram, which sells around 2,700 new vehicles a year in Urbandale, a suburb of Iowa's capital Des Moines. After a drop in sales in April when consumers stayed home, Bill expects pickup truck sales to end May similar to where they were a year earlier. And if demand remains strong, Bill said he will run out of popular models in June. Fiat Chrysler began slowly restarting Ram truck assembly lines on Monday after a two-month shutdown. The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession of 2007-2009 because of lockdown measures aimed at slowing the spread of the coronavirus. Economists warn the second quarter will be much worse. Still, far from the lockdowns of states like New York, Michigan or Ohio, dealerships like Stew Hansen have provided FCA and Detroit rivals General Motors and Ford a rare bright spot: strong sales of pickup trucks in America's heartland. Overall U.S. sales of cars and light trucks crashed to the weakest pace in 50 years last month. But sales of big Detroit brand pickups, particularly in southern and western states less affected by the outbreak, significantly outperformed the market, industry executives and analysts said. Pickup trucks are one of the most profitable automotive segments in the world. They account for a huge portion of the Detroit automakers' profits and formed a huge lure for Peugeot, which expects to merge with FCA by early 2021. The pressure is now on to boost pickup truck production and send vehicles to dealers in parts of the country with dwindling supplies. That is particularly true for GM, which is running short of certain truck models after losing 40 days of production to a strike last fall. "If you don't have what someone wants, they can choose to go to another brand," said Cox Automotive analyst Michelle Krebs. 'Easiest swap ever' Detroit automakers in March rolled out large discounts — such as interest-free loans for seven years — to keep vehicles rolling off dealer lots.