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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.

Mopar's 80 years told through vintage ads

It's more than just car parts. Mopar started in 1937 an antifreeze brand, and 80 years later Fiat Chrysler's now-iconic aftermarket division is known for everything from muscle cars to smart phone apps. This is reflected in its advertisements over the years, which show off the brand's capabilities at different moments. Rediscovered from deep in Mopar's archives as it kicks off a year-long celebration of its history, the ads are snapshots of the former Chrysler Corp. and the mood of America at those times. A colorful, free-spirited 1972 ad hawks T-shirts. A plainer 1964 spot shows off Mopar's expansive portfolio with the tagline, "sorry, we ran out of space!" There were too many parts to show them all. Another 1960s ad explains Mopar's new wire and cable products in what was likely a magazine spread or multi-column newspaper entry. Going back farther, an ad from the 1940s touts radios through wind-in-your-hair exuberance, while a later placement shows a Ward Cleaver-type waxing his hardtop. Slightly more recently in 1989, Mopar used its muscle-car heritage to encourage restoration and customization just as nostalgia for that era was growing. "The Mopar brand holds an unparalleled place in the automotive world, possessing name recognition, scope of service, and passionate enthusiasts unmatched by any other service and parts organization in the industry," Pietro Gorlier, Mopar's global chief, said in a statement. While those advertisements highlight its earlier days, Mopar is using its 80th year to look forward, noting its modern service offerings, competition in motorsports, and special edition models, like a custom Ram Rebel. These ventures have advanced the Mopar's scope and elevated its awareness with consumers, who often don't know what brand of aftermarket products their car uses. Yes, Mopar still wants to sell as many car parts as possible, but as these ads show, it's always been more than that. Related Video: Featured Gallery Vintage Mopar Ads Marketing/Advertising Chrysler Fiat Automotive History

Plug-in BMWs, long-term updates and the best of SEMA 2018 | Autoblog Podcast #560

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts. The pair discuss the BMW 740e xDrive iPerformance plug-in hybrid as well as our long-term Chrysler Pacifica Hybrid and Honda Ridgeline. They also discuss the best of SEMA Show 2018, including some pretty wild cars from Dodge and Chevy. Finally, we spend your money. This week, rather than pulling questions in from our email, we head to Reddit to answer some questions on r/cars.Autoblog Podcast #560 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 2018 BMW 740e xDrive iPerformance 2018 Chrysler Pacifica Hybrid long-term 2018 Honda Ridgeline RTL-E long-term SEMA Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts BMW Chrysler Dodge Honda chrysler pacifica