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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.

Thieves still love older Hondas and pickups most, says NICB [w/video]

No one wants to have their car stolen, but a new study by the National Insurance Crime Bureau has some bad news for older Honda owners and pickup drivers. Fortunately, it has better news for drivers overall. The group is reporting that according to preliminary data from the Federal Bureau of Investigation, thefts were down 3.2 percent in 2013 (versus 2012) to fewer than 700,000 cars. That's the lowest figure since 1967. That's also less than half of the peak of over 1.66 million thefts in 1991. "The drop in thefts is good news for all of us," says NICB President and CEO Joe Wehrle. "But it still amounts to a vehicle being stolen every 45 seconds and losses of over $4 billion a year."
Honda drivers might not find it such good news with older Accord and Civic models topping this year's theft study. Toyota and Dodge can't really celebrate, either, with two models each on the list, as well. Overall, this year's list was split evenly between foreign and domestic models, which were mostly pickups.
The 10 most likely vehicles to be stolen in 2013 were:

Mopar Hellephant crate engine sells out in 48 hours

This happened so quickly that we're only just catching up with it. Mopar opened pre-orders on the 7.0-liter Hellephant Hemi crate engine on April 26, which is Hemi Day. According to Allpar, hubbub on social media not long after that day claimed Mopar had gone through all of its Hellephant stock. When Allpar asked Fiat Chrysler for clarification, a spokesperson e-mailed, "Given the high demand and the hand-built, time-intensive build process, we have closed preordering for the 426 Hellephant Supercharged HEMI crate engine. Based on preorders, the engine sold out in just two days. Customers can visit www.cratehemi.com to receive future information and updates on the 'Hellephant' engine." No one is certain how many engines Mopar sold. Allpar wrote, "Industry insiders believe Mopar may be making around 100," but reiterated that it's a guess. The engine and the ordering process have their peculiarities. Mopar Insiders explained that Tool Engineering International helped create the 426-cubic-inch block, and that the Hellephant engine "shares nothing except for displacement with the rumored upcoming 7.0-liter 426 Hemi V8." On the Hellcat.org forum, a poster wrote that the engines "can only be sold through a dealer and that the dealers can only order 1 engine per week." The Hellephant doesn't come with Mopar's three-year, 100,000-mile warranty, either. During a press briefing last October, FCA officials said they weren't sure about offering any warranty. Based on the motor being given a part number starting with the letter P, there is a bit of protection, but it's a 90-day limited warranty covering "defects in materials or wokmanship," and only applies to engines not used in competition. For those who didn't get the opportunity to drop $29,995 for 1,000 horsepower and 950 pound-feet of torque, the best bet is to hope for the return of Apollyon's pachyderm. Motor1 wrote that "Rumors hint at... another limited run scheduled for next year due to overwhelming demand." That's thin thread to hang a Hellephant from, but it beats bupkis.