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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.

UAW papers reveal release dates for new Dodge, Jeep and Ram models

Documents published by the United Auto Workers union reveal key information about some of the products Dodge, Jeep and Ram will release during the early 2020s. All three brands will try to capitalize on the growing demand for trucks and SUVs in the United States. The agreement between the UAW and Fiat Chrysler Automobiles (FCA) outlines what the period between 2019 and 2023 will look like from an employee's vantage point. The $4.5 billion factory the automaker is building in Detroit will begin manufacturing a three-row Jeep model in 2020, and it will add the next-generation Grand Cherokee to its roster the following year, according to CarScoops. The new Grand Cherokee will also roll out of the Jefferson North facility that makes the current model scheduled to retire shortly before its successor arrives. The Dodge Durango will continue to be built there, and the UAW papers mention a mild-hybrid variant of the SUV due out before the end of 2020. Two body-on-frame Jeep models tentatively scheduled to revive the heritage-laced Wagoneer and Grand Wagoneer nameplates will break cover in 2021. They will be built alongside Ram pickups at the Warren Truck plant, and odds are the three models will share several components under the sheetmetal. Adding the two Jeep models is expected to create 1,400 jobs, FCA predicted. Speaking of Ram, the high-performance TRX model (pictured) aimed at the Ford F-150 Raptor's jugular is penciled in for a 2020 launch. The concept that previewed the model made its debut in 2016, so it's reasonable to assume it will have changed considerably by the time it reaches showrooms. It will be based on the newest variant of the 1500, not on the last-generation model still sold as the Classic. What won't change is the supercharged, 6.2-liter Hellcat V8 between its fenders. The plug-in hybrid Wrangler remains on track for a 2020 launch. The Cherokee will continue to come out of Belvedere Assembly in Illinois, but the UAW's documents mention "fresh models / features" off of its unibody platform. Whether that means new trim levels or additional body styles remains to be seen, but it sounds like something new and Cherokee-related is around the corner. The ancient Dodge Journey shares at least one thing with the beater you drove in high school: a four-speed automatic transmission. The gearbox is finally on its way out, according to the UAW, and the 2.4-liter four-cylinder engine that powers the entry-level model isn't long for this world, either.

Jeep and Ram could be spun off from FCA, says Marchionne

Jeep is surely the biggest single feather left in the cap of the Fiat Chrysler Automobiles portfolio. Under Sergio Marchionne's leadership, Jeep went from fewer than 500,000 annual sales in 2008 to 1.4 million in 2016, and is on track for 2 million by 2018. Add in the brand's legacy, status as one of the most recognizable nameplates in the world, and rabid fan base, and Jeep has extraordinary monetary value to its parent company. Investors and analysts have certainly noticed Jeep's inherent value. According to The Detroit Free Press, Morgan Stanley's Adam Jonas asked FCA chief Sergio Marchionne if he would ever consider spinning Jeep and Ram, FCA's dedicated truck brand, into a separate corporate entity, and he responded with a simple "Yes." Jonas estimated Jeep's worth in January of this year at $22 billion. Ram was valued at $11.2 billion. Marchionne has a history of spinning off brands while keeping them part of FCA's corporate umbrella. The most noteworthy example of this value maximization was with Ferrari, which now trades on the New York Stock Exchange and rakes in $3.4 billion in annual revenue and close to $435 million in net income, reports the Free Press. Marchionne still serves as chairman and CEO of Ferrari, and Fiat heir John Elkann owns 22 percent of the Italian marque's shares. Even if the offloading of Jeep and Ram into a separate entity would amount to little more than a profit-driven ownership change on paper, it would be huge news to the brands' loyal fanbases. In any case, such a move would likely take years to actually happen and probably wouldn't mean much at all to the products that Jeep and Ram produce. In other words, Jeep fans can keep the pitchforks in the shed ... for now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.