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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.

2019 Tokyo Auto Salon features one of the coolest auctions we've seen

In just over a week, the Tokyo Auto Salon will host one of the coolest auctions we've seen in years. Jalopnik spotted BH Auction's listings, and it's a cornucopia of hot machinery you won't typically find at American auctions like Gooding & Company or Barrett Jackson. While Japanese cars make up most of the listings, Ferrari, Porsche, BMW and even Dodge all have at least one car going up for auction. We won't include everything here, but you can check out the full list on BH Auction's website. There are 50 lots at the auction, including nine Nissan Skylines, nine Ferraris and two Porsche Carrera GTs. Some of our other favorites include a Honda S800 coupe, a Toyota Miniace truck, a Mitsubishi Willys Jeep and a 1955 Mercedes-Benz 300 SL gullwing with the V8 from a W124 Mercedes-Benz E60 AMG that's estimated to sell for between $1.25 million and $1.5 million. Related Video: News Source: BH Auction via Jalopnik Audi Dodge Ferrari Honda Mitsubishi Nissan Porsche Toyota Auctions Autoblog Minute nissan skyline mercedes-benz 300 sl

Dodge Challenger ADR prototypes spied with massive rubber

In an effort to give the Dodge Challenger one last hurrah before making the switch to the Giorgio platform in 2018, Automotive News reports that the automaker will come out with the Challenger ADR. The ADR, which stands for American Drag Racer, is expected to be a wide-body, Hellcat-powered variant that is closely based off of the current model. The report seems to have merit, as photographers have captured Challenger prototypes testing with massive tires. The prototypes look extremely similar to the current Challenger SRT Hellcat with the same hood scoop, front fascia design, rear spoiler construction, and rear end. The white and purple vehicles, though, are wearing extremely wide tires. The extra-wide rubber on the prototypes appear to have a similar tread design as the ones found on the Dodge Viper ACR, which features the grippy Kumho Ecsta V720. While the ACR wears 295 mm tires at the front, the car's rear tires are massive at 355 mm. The tires found on the prototype don't appear to be as large as the ones found on the ACR, but are expected to be larger than the current Challenger SRT Hellcat's, which are Pirelli P Zero Neros measuring 275 mm at all four corners. The Challenger ADR, with its wider, stickier tires is expected to cater to drivers that are looking to put all of the supercharged 6.2-liter V8's power to the ground. The rear-wheel-drive ADR is expected to come with a wide-body kit, which is missing from the prototypes. The Hellcat-powered, wide-body Challenger ADR is expected to make an appearance later in 2017, with an all-wheel-drive model (sans Hellcat engine) known as the GT AWD following closely thereafter. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Dodge Challenger ADR Spy Shots View 16 Photos Spy Photos Dodge Coupe Performance prototype testing dodge challenger srt hellcat