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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.

2018 Jeep Grand Cherokee Trackhawk is more expensive than the Dodge Demon

Jeep has finally released pricing for its crazy, all-wheel-drive, Hellcat-powered Grand Cherokee, and it's seriously expensive. It starts at $86,995. That's a full $2,000 more than the limited-production, 840-horsepower Dodge Challenger SRT Demon. For 140 fewer horses, and a quarter-mile time that's 2seconds slower (11.6 seconds vs. 9.6), you'll spend more money. Then again, the Grand Cherokee can do things the Demon and the Hellcats can't. It's got more space than any of them, meaning you can carry quite a bit more. It's capable of towing up to 7,200 pounds of stuff. It also has all-wheel drive, which means you have a little extra traction in bad weather, and you have the opportunity to do spectacular four-wheel burnouts. And of course, the Trackhawk is still fast and capable by any measure. It's only a tenth of a second slower to 60 mph than the Challenger Hellcat Widebody. It also comes with massive Brembo brakes, with the largest front rotors fitted to a Jeep, to haul it down from 60 mph in a claimed 114 feet. Each corner features 295-mm tires that Jeep claims let the Trackhawk generate 0.88g circling a skid pad. If the Trackhawk sounds like just the absurd performance machine you've been waiting for, you'll be able to put your order in soon. Dealers will accept orders starting Aug. 10, and the vehicles will start arriving at dealer lots toward the end of the year. Related Video: Featured Gallery 2018 Jeep Grand Cherokee Trackhawk View 45 Photos Image Credit: Jeep Jeep SUV Performance

FCA is setting a five-year strategy: Here's how the last one played out

We're slightly more than four years removed from Sergio Marchionne last five-year plan for FCA, a tell-all where the Italian-American automaker divulged its plans for the 2014 through 2018 model years. It was a grand affair, where Sergio told FCA investors that all was right in Auburn Hills, Alfa Romeo and Maserati were making comebacks, and the fifth-gen Dodge Viper received a mid-cycle refresh. You can read every last one of those past predictions right here. We're on our way to Europe to see Sergio's sequel, coming out Friday straight from FCA's Italian headquarters. (Bloomberg reports a plan to expand Jeep and Ram globally, combine Alfa Romeo and Maserati into a single division for an eventual spinoff, and downsizing Fiat and Chrysler. Also, EVs.) But before we arrive in Italy and find out exactly what Marchionne has planned for 2019 through 2023 as his last act as CEO, let's take a minute to tally up the results of his last term based on the same scoresheet we used in 2014. Now, we're only five months into 2018, so much of this — including vehicles like the Ram HD and Jeep Grand Wagoneer — could still debut this year. For those, we'll mark things TBD. We're not going to draw any conclusions or make any objectionable remarks. We're simply going to let the stats speak for themselves.