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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.

Jeep Renegade Hell's Revenge is the Harley rider's Jeep

Well, here's a thing. Yes, it's a Jeep Renegade. Yes, it has flames on it. And no, we aren't really sure how to feel about it. This is the Renegade Hell's Revenge. Presumably named after the Hell's Revenge Trail in Moab, this one-off baby Jeep is the product of Italian tuning house Garage Italia Customs and draws inspiration from the collected works of Harley-Davidson. It's not the first time a car company has attached the Milwaukee icon's badge to one of its vehicles – the company has a long history of partnering with Ford for special edition pickup trucks – but it's the first time we can recall the brand teaming with Jeep. The Hell's Revenge was created because of the 25th annual European H.O.G. Rally, a big Harley-Davidson festival being held in Portoroz, Slovenia this weekend. And since Europeans have a bizarre infatuation with Harleys, Jeep probably saw an excellent advertising opportunity and slotted the off-road brand in as the event's main sponsor. We have to admire the workmanship on this diesel-powered Renegade. Ignore the fact that there's a flame motif, and the actual paint job itself is absolutely lovely. According to FCA's official release, GIC used four layers of matte paint before applying fluorescent paint. The dashboard also gets a bright, exuberant flame motif, while the seats are a combination of Foglizzo Nappa leather and black denim. The functional changes are minor. BFGoodrich tires and a jacked-up suspension provide extra capability, and there are a pair of adorable LED spotlights ahead of the two A-pillars. It's an impressive effort. Really. But when you remember that the last Chrysler product to wear a flame motif was the PT Cruiser, we wonder if Jeep knew what kind of company its newest CUV would be in. Related Video:

Rumor has it the new Grand Wagoneer has been cancelled, but we're not so sure

This just doesn't seem to add up. Autoline Daily is reporting that plans for a new top Jeep, a reimagined Grand Wagoneer to sit above the Grand Cherokee, have been scrapped. The info comes from Auto Forecast Solutions, an industry analyst company. The Grand Wagoneer was expected to use a stretched version of the next Grand Cherokee's platform, but it reportedly won't accept the larger vehicle. The report implies that the next Grand Cherokee will use a version of the current Grand Cherokee's unibody platform, which is about what we expected. The thing is, the current Grand Cherokee shares its platform with the (longer) Dodge Durango, as well as Mercedes-Benz's GLE and GLS SUVs (remember the DaimlerChrysler days?). It's possible the Wagoneer was supposed to be wider as well as longer, and that the Durango's stretch just wasn't enough, but it seems odd that this is just now coming to light. We have already seen sketches of the new Grand Wagoneer, purported to have leaked out of an FCA dealer meeting. Jeep's CEO has discussed the (high) price the new utility would command. It just seems like a lot of thought went into the vehicle already, thought that wouldn't be put forward if someone hadn't looked into the feasibility of actually building it. The report (the one that says the thing has been cancelled) also says FCA might regroup and build the GW as a body-on-frame SUV on the Ram 1500 platform. That also seems unlikely, since this is supposed to be a luxurious, refined vehicle that's nicer than the Grand Cherokee. It would be tough to accomplish all of that with a ladder frame underneath, and it's just not the way the industry is going, let alone the Jeep brand. We'll keep an eye on this one. Related Video: Featured Gallery 2019 Jeep Grand Wagoneer Dealer Leak Spy Shots News Source: Autoline Daily Rumormill Jeep Crossover Luxury