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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.

2015 Jeep Renegade Sport 4x4 Quick Spin [w/video]

Which is the most entertaining Jeep Renegade you can get? While one might make an argument for the Trailhawk model and its accompanying off-road hardware and consequential go-anywhere ability, that car comes with one glaring flaw – its 2.4-liter engine and nine-speed automatic transmission just aren't very entertaining. Instead, I submit the turbocharged, 1.4-liter base engine and its accompanying six-speed manual, a position that was reinforced after a recent stint behind the wheel of a very basic Sport 4x4. Not only do you get a fair amount of the Trailhawk's off-road ability – the Selec-Terrain system and a 4WD Lock mode are standard, but you'll be without the 20:1 crawl ratio and Rock off-road mode – you'll also enjoy a more dynamically interesting powertrain. Read on to see why the force-induced Renegade might just be the way to go. Driving Notes My first date with the Renegade was on the mostly empty, winding roads of northern California. There, the 1.4-liter turbocharged inline-four with 160 horsepower and 184 pound-feet of torque felt fine – with no traffic and few stoplights along the drive route, it was easy to keep the engine on boil. But this engine isn't as enjoyable in day-to-day suburban traffic. Power arrives suddenly – peak torque comes between 2,500 and 4,000 rpm – and if you don't use it, you lose it. There's not much oomph in the higher end of the rev range. With such a peaky powerband, it's easy to get caught flat-footed if you're not paying attention. Thankfully the manual transmission makes it simple to stay engaged and in the correct gear. The stick-shift is enjoyable to use, with a firm clutch that's easy to modulate and shift action that isn't sloppy or vague. The 1.4-liter engine sounds good. Turn down the stereo, stomp on the throttle, and you'll be treated to a delicious turbo whistle and a smooth exhaust note. I've said it before and I'll say it again: I want Mopar to offer the Fiat 500 Abarth's exhaust on the Renegade. It'd be fun. If you do prefer the stereo, know that the Renegade's standard four-speaker unit is weak. Base models don't offer Bluetooth or satellite radio, but you can add both of those luxuries, two extra speakers, and a five-inch touchscreen for just $695. Not a bad bargain. The Koni frequency selective dampers do an excellent job of managing both small, frequent imperfections (like freeway expansion joints), and the bigger potholes that still haven't been fixed after the havoc of Detroit's winter.

Jeep idles second shift it hired a month ago for 2014 Cherokee

In an unusual move, Chrysler is idling its recently hired second shift of 2014 Jeep Cherokee builders because, Chrysler spokeswoman Jodi Tinson said in a statement, it already has built the "critical number of vehicles we need to stock dealerships once containment is released," Automotive News reports.
After the "critical" 9,430 Cherokees were built, the layoff was enacted so as not to strain the automaker's logistics partners before the Cherokee is actually released. Chrysler says the temporary layoff will last about two weeks, with 500 workers out of work and another 600 reassigned at the Toledo Assembly Complex where the sports utility vehicle was being built. The second-shift workers were hired on August 19.
Chrysler previously insisted that it would release the Cherokee to dealerships by the end of the third quarter, and it initially planned to start selling the SUVs in mid-August. Apparently the Cherokee needed a software fix before hitting showrooms, which is how Chrysler explains why the release schedule is out of whack. We're thinking that this software fix addresses the "powertrain calibration" issue that delayed the first media test drives of the model. According to the Toledo Blade, Chrysler has admitted it is doing "extended quality validation testing" but refused to provide more information.