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FCA CEO Mike Manley will take undefined new role after PSA merger

MILAN — Fiat Chrysler Chief Executive Mike Manley will remain with the new group set to result from a planned merger with French rival PSA-Peugeot, Chairman John Elkann said on Wednesday. In a letter to Fiat Chrysler (FCA) employees on the day the two companies announced a binding agreement for a $50 billion tie-up to create the world's fourth-largest carmaker, Elkann said he was "delighted" that the combined group would be led by current PSA CEO Carlos Tavares. "And Mike Manley, who has led FCA with huge energy, commitment and success over the past year, will be there alongside him," he said. He did not say what position Manley would hold. Elkann — who will chair the new group — said there was still much to be done to complete the merger. "Over the coming months we must work tirelessly and determinedly to fulfill all the approval requirements needed to finalize the commitment we have signed," he said. Related Video:     Hirings/Firings/Layoffs Chrysler Dodge Fiat Jeep RAM Citroen Peugeot FCA PSA merger Mike Manley carlos tavares

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.

2016 Dodge Charger and Challenger SRTs look juicy in Go Mango

The 2016 Dodge Challenger and Charger SRT models are ready to go with newly available Go Mango orange paint. The carrot-like shade is the latest in the brand's long line of vibrant, throwback colors like Plum Crazy purple and Sublime green. Dealers can start order the bright hue right now. Dodge originally introduced Go Mango on the 1970 Challenger and also offered the color on the 2006 Charger R/T Daytona and 2016 Dart. Now, it's available on the SRT 392 and Hellcat models. The orange shade highlights the vehicles' lines well and looks especially good with black stripes running from the front splitter to the rear bumper like in these photos. There's no way to blend into traffic in such a vibrant muscle car, so this hue is for extroverts only. Last year at the Woodward Dream Cruise, Dodge brought back Plum Crazy on most Challenger and Charger models. The deep purple is a nice enough color, but Go Mango seems like a better fit for the SRT's performance-oriented demeanor. Related Video: Go Mango: Dodge Launches Modernized Exterior Heritage Color for 2016 Challenger and Charger SRT Muscle Cars Dodge continues to answer enthusiast demand with the latest heritage-inspired exterior paint color Dealers can begin ordering Go Mango immediately on Charger and Challenger SRT models March 14, 2016 , Auburn Hills, Mich. - "Plum Crazy" purple, "B5 Blue" and "Sublime" green Dodge Charger and Challenger muscle cars have recently been streaming out of the FCA US Brampton Assembly Plant, bringing a sense of nostalgia and powerful bursts of high-impact paint color to highways and dragstrips across the country. Now, new for spring 2016 and shown for the first time this past weekend at the 11th annual Spring Festival in Irvine, Calif., Dodge is expanding its color palette with a new, modernized version of Go Mango exterior paint on 2016 Dodge Challenger and Charger SRT models. Dealers can begin ordering Go Mango immediately. Go Mango was first introduced by Dodge on the iconic 1970 Challenger. Following a limited production run in 2006 on specific Charger R/T Daytona models, and more recently featured on the 2016 Dodge Dart, the next generation of the legendary and limited-edition exterior hue combines orange and red tones into a high-impact color that showcases the legendary Dodge performance attitude.