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Sergio rethinks FCA-GM merger idea, dismisses critics

After many public overtures, Fiat Chrysler Automotive CEO Sergio Marchionne has claimed his company won't be making a hostile takeover bid for General Motors. This is despite widespread speculation that FCA's desire to merge was motivated by its allegedly dire situation. As one unnamed GM exec who spoke to Automotive News earlier this year put it, "Why should [GM] bail out FCA?" "We are not choking. We are in relatively decent shape," Marchionne told journalists attending an FCA shareholder meeting in Amsterdam, AN reports. "We have been publicly rebuffed, we have been rejected and you cannot force these things. I don't want to. At the moment, we have no intention to do anything hostile." Instead of focusing on merging with GM, or any other partners for that matter, FCA will refocus on implementing its ambitious five-year investment plan, which would see it dump $52 billion into its various brands, with a particular focus on Alfa Romeo, Maserati, and Jeep. So far the attempt has largely been unsuccessful, especially as it relates to the Italian brands. Earlier this week, additional reports emerged that claimed Alfa was pushing back the Giulia and an unnamed CUV while reassigning resources to updated versions of the Giulietta and MiTo hatchbacks. This is not the first time we've heard about trouble for the Giulia, of course. For Masearti, though, it was the first we'd heard of delays for Alfieri sports car, which allegedly won't appear in 2016, as promised. We can expect a proper breakdown of FCA's adjusted plans when Marchionne and Company reveal an updated product slate next month. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience. News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Alfa Romeo Chrysler Fiat GM Jeep Maserati Sergio Marchionne FCA

Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

2024 Alfa Romeo Giulia and Stelvio Quadrifoglio Super Sports close the book

Alfa Romeo is hitting the gas on limited-edition special-edition models of late, as the Italian outfit prepares to get rid of gas entirely. Last year we got the Giulia and Stelvio Quadrifoglio 100th Anniversario editions celebrating the centenary of the four-leaf clover trims, then came Quadrifoglio Carbon Editions celebrating that resin weave, then came Tributo Italiano Editions lauding the home country. Now that the world is closer to the end of the internal combustion Quadrifoglio lineup, Alfa's launched the 2024 Giulia and 2024 Stelvio Quadrifoglio Super Sport models. The Giulia Quadrifoglio Super Sport is limited to 275 units worldwide, 72 coming to the U.S. The Stelvio Quadrifoglio Super Sport is even more limited, rolling out just 175 examples for the world, 52 slated for U.S. purchase. Both are powered by the brand's twin-turbo 2.9-liter V6 making 505 horsepower and 443 pound-feet of torque, shifting through an eight-speed automatic to both axles. It would have been wonderful to get the upgraded engine making 520 hp and the mechanical limited-slip differential offered on the 100th anniversary models, especially since the Super Sports are only priced $140 (Giulia) and $660 (Stelvio) below the centenary editions, but it's not to be. Instead, the Super Sports are enhanced outside with a black Quadrifoglio badge, carbon fiber mirror caps, carbon fiber accents in the grille shield, black Brembo calipers, and dark five-hole wheels that are 19 inches on the Giulia, 21 inches on the Stelvio. Inside, special trim includes red carbon fiber on the instrument panel, center console, and door cards, embroidered headrests, and a steering wheel wrapped in leather and Alcantara.  Designers prepped three exterior color options for the Giulia: Bianco Alfa, Metallic Nero Vulcano, or "Three-layer" Rosso Etna. The Stelvio can be had in one of the latter two, not the Bianco Alfa. The 2024 Giulia Quadrifoglio Super Sport starts at $88,365 after the $1,595 destination charge, representing a $5,400 premium over the standard model. The $95,965 Alfa Romeo Stelvio Quadrifoglio Super Sport runs a stiff $7,000 above the standard four-leaf SUV. Orders are open now, deliveries expected in the fall of this year.