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Toyota, Ford not interested in FCA merger

Sergio Marchionne will preach the benefits of mergers to anyone who'll listen, but his calls for industry consolidation may be falling on deaf ears. At least, that is, the ears of those who the Fiat Chrysler chief would most like to bend. Not only is General Motors uninterested, but according to The Detroit News, neither are Toyota or Ford. "It's something we would not be interested in," said Toyota's North American chief Jim Lentz, at the groundbreaking ceremony for the new Toyota Technical Center. "At 10 million (vehicles) we have enough scale right now to do what we need to do. There really would be no advantage for us." Toyota isn't the only one unenthused by the prospect of merging with Fiat Chrysler Automobiles. The Detroit News also reports that Ford, though it may yet to have been approached by Marchionne, wouldn't be interested either. "We're not a suitor for FCA," said Ford CFO Bob Shanks. "We don't see that type of opportunity as one that applies to us." With GM, Toyota, and Ford expressing disinterest in Marchionne's merger idea, the FCA chief will likely start looking elsewhere – or look for other ways to compel his primary candidate to reconsider. He may eventually find a partner – more likely in the Far East or within Europe – but it may not take the form of the major player Sergio has hoped for. News Source: The Detroit NewsImage Credit: Bill Pugliano/Getty Chrysler Fiat Ford Toyota Sergio Marchionne FCA merger fiat chrysler automobiles

Junkyard Gem: 2006 Chrysler PT Cruiser Route 66 Edition

The world has fallen out of love with the Chrysler PT Cruiser, the small truck (legally speaking, it was a truck by American government definition) that started with off-the-shelf Neon chassis components and added a retro-looking roomy body. In its heyday, though, the PT Cruiser looked cool and different, and sold very well for the better part of its 2000-2010 production run. Chrysler sold some special-edition PT Cruisers, most of which seem to have disappeared without a trace, but I managed to catch this discarded '06 Route 66 Edition in a self-service wrecking yard in Charlotte, North Carolina. The Route 66 Edition came in either black or yellow paint, with yellow brake calipers and these Route 66 badges. PT Cruisers with manual transmission are surprisingly easy to find in junkyards (the manual was significantly cheaper than the automatic), but this is a luxurious two-pedal version. This one had already been hit hard by parts shoppers, who took most of the front body components and a big chunk of the interior. Note the kicky yellow dash trim. The PT Cruiser, being classified as a truck, didn't have to pass the stricter emission-control and crash standards the US federal government applies to cars. That made it a good bargain when it came to capacity-per-dollar for buyers. Eventually, though, the American public tired of the onslaught of faux-retro-styled PT Cruisers (and Chevy HHRs and Volkswagen New Beetles), and now the resulting low resale value of used PT Cruisers sends them to the wrecking yards in record numbers. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Exercise your right foot! Related Video:

Marchionne says no offers are on the table for Fiat Chrysler

MONZA, Italy (Reuters) - Fiat Chrysler (FCA) has not received any offer for the company nor is the world's seventh-largest carmaker working on any "big deal", Chief Executive Sergio Marchionne said on Saturday. Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company's business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: "No." The company's share price jumped to record highs last month after reports of interest for the group or some of its brands from China. China's Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker. The stock move was also helped by expectations that the company might separate from some of its units. Marchionne reiterated on Saturday that FCA was working on a plan to "purify" its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. "There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things," he told journalists. Asked whether an announcement could come this year, Marchionne said it was up to the board to decide and that it would next meet at the end of September. He said the time was not right for a spin-off of luxury brand Maserati and premium Alfa Romeo and the two brands needed to become self-sustainable entities first and "have the muscle to stand on their feet, make sufficient cash". "The way we see it now, it's almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase," he said. "It's the wrong moment, we are not in a condition to do it." He said the concept of separating the two brands from FCA's mass market business made sense and did not rule out this happening in future, but not under his tenure, which lasts until April 2019. "If there is an opportunity in future, it would certainly happen after I'm gone. It won't happen while Marchionne is around," he said.