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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.

An inside look at Mopar's SEMA fleet

Mopar is heading to the SEMA show in Las Vegas with a fleet of customized vehicles that appeal to enthusiasts of all stripes. There's a Dodge Viper ACR concept that follows in the lineage of the supercar's great road racing past, and a custom Ram ProMaster that might just be the ultimate outdoor party machine.
We got an inside look at Mopar's cars that will be on display at the show, which also include a Dodge Challenger T/A concept, two crazy Jeeps and a Ram 2500 Outdoorsman that could change the way you camp. While these are some of our favorites, Mopar is bringing plenty to SEMA, so let us know your top choices in the comments section.

2014 Dodge Durango leaks ahead of NY rollout

Even though Chrysler will reportedly discontinue the Dodge Durango after the current model's lifespan - said to be around 2016 - that isn't stopping the automaker from improving its full-size, three-row SUV. The vehicle won't debut at the New York Auto Show until tomorrow, but images are already leaking out ahead of the embargo lift, and they show that the 2014 model is getting even more aggressive styling to go with more technology inside and out.
Dodge limited its early press shots of the new Durango to just the R/T trim level, but this new look adds a meaner look to this model with more dramatic projector-beam headlights along with a "floating" crosshair grille and a restyled fascia. At the rear of the Durango, LED racetrack taillights show a family resemblance to the Charger and Dart, while a new rear fascia adds to the styling while also allowing for an integrated trailer hitch.
On the tech side, the instrument panel looks to have been redesigned to include a standard seven-inch thin-film transistor (TFT) gauge cluster, and it also appears as if Chrysler's well-liked UConnect system has been updated with the 8.4-inch touchscreen found in other Chrysler vehicles. The 2013 model's conventional console shifter has been replaced by a rotary knob for gear selection, suggesting that there are transmission changes afoot as well. We'll have more details when the silks slide off this big boy tomorrow, so stay tuned.