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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.

Fiat Chrysler says it did not know about Marchionne's illness

ZURICH/MILAN — Fiat Chrysler said it knew nothing about the medical condition of Sergio Marchionne after a Swiss hospital said on Thursday it had been treating the deceased chief executive for more than a year. "Due to medical privacy, the company had no knowledge of the facts relating to Mr. Marchionne's health," a Fiat Chrysler spokesman said. Questions have been raised about how long Marchionne, who died on Wednesday, was ill and how much the company knew before it made the situation public. Marchionne rescued Fiat and Chrysler from bankruptcy after taking the wheel of the Italian carmaker in 2004 and he multiplied Fiat's value 11 times through 14 years of canny dealmaking. He was due to step down at FCA in April next year. "The company was made aware that Mr. Marchionne had undergone shoulder surgery and released a statement about this," the spokesperson said. "On Friday, July 20, the company was made aware with no detail by Mr. Marchionne's family of the serious deterioration in Mr. Marchionne's condition and that as a result he would be unable to return to work. The company promptly took and announced the appropriate action the following day." Asked whether the scope of the statement included the board and the chairman, the company declined to comment. In emailed comments, Marchionne's family confirmed the companies had not been aware of his health conditions. "At the end of last week FCA was made aware Sergio Marchionne would no longer be able to return to work without mentioning any further details," the family said. The announcement of the death of Marchionne, 66, one of the auto industry's most tenacious and respected CEOs, drew tributes from rivals and tears from his closest colleagues on Wednesday. University Hospital Zurich said earlier on Thursday Marchionne had been treated for a serious illness for more than a year before his death. Marchionne had fallen gravely ill after what the company had described as shoulder surgery at a Zurich hospital. He was replaced as chief executive last weekend after Fiat Chrysler (FCA) said his condition had worsened. "Mr. Sergio Marchionne was a patient at USZ. Due to serious illness, he had been the recipient of recurring treatment for more than a year," the hospital said in a statement. "Although all the options offered by cutting-edge medicine were utilized, Mr.

2021 Chrysler Pacifica refresh spotted with its new bits covered

The Chrysler Pacifica is the critical darling of the minivan segment, but FCA seems keen to make it even better with a 2021 refresh we're expecting to see later this year. From these photos, we can tell that FCA's beloved people hauler will get some front- and rear-end updates. The spy who captured these photos also passed along the fact that the engineers inside moved quickly to cover up its interior, hinting that there will be news on that front as well. There might be more to this that we can't see from the outside. Rumors have been swirling for the better part of a year that Chrysler has plans to add all-wheel drive to the Pacifica's option sheet.  FCA has remained mum about this potential development, but it would be a logical step to keep the minivan relevant as the industry continues to feel the effects of crossover creep.  If it does come to fruition, this wouldn't be the first time FCA has offered all-wheel drive on a minivan, but historically the feature has come at the expense of another wildly popular option: the company's Stow 'n Go seating system, as the cubbies have always occupied the same space that would be needed to install a prop shaft to carry power to the rear axle. Maybe FCA's engineers have figured out how to combine the two, or will simply offer both as options that can't be combined as they have in the past. Given what appears to be the production-ready state of this particular test car, we may not have to wait long to find out.