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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 Buying Guide | Popular SUV questions and answers

The Jeep Grand Cherokee is several SUVs rolled into one. When equipped with the standard 3.6-liter V6, the Grand Cherokee is a refined and well-mannered sport-utility that delivers a comfortable ride, a handsome cabin, along with Jeep's legendary off-road prowess. At other end of the spectrum is the Trackhawk, a Grand Cherokee with the heart of a 707-horsepower muscle car. Powered by the same supercharged V8 found in the ferociously quick Dodge Challenger Hellcat, the Grand Cherokee Trackhawk is one of the fastest and wildest SUVs of all time. Between these extremes there are plenty of other options, including two somewhat less powerful (but still potent) choices of V8. An available air suspension not only helps to make the ride smoother, it can significantly raise the ride height for any rock-crawling moments you encounter. Here you'll find all the information needed to make an educated buying decision if you're considering a 2018 Jeep Grand Cherokee, including safety and reliability ratings, engine specs, horsepower, fuel economy ratings and pricing. We'll also summarize what Autoblog's professional auto reviewers think of the Jeep Grand Cherokee. Is the 2018 Jeep Grand Cherokee Safe? The Jeep Grand Cherokee scores four out of a possible five stars in the National Highway Traffic Safety Administration's overall crash-test rating system. The Grand Cherokee was tested in both rear- and all-wheel drive format. The two Grand Cherokee models tested earned four-star ratings in frontal impact tests, and five stars in NHTSA's side impact tests. The only difference between the two is regarding their resistance to rollover, with the rear-wheel drive Grand Cherokee scoring a three-star rating, versus four stars in the all-wheel drive model. The Insurance Institute for Highway Safety, which provides ratings for new vehicles based on its own comprehensive crash tests, found room for improvement when it comes to the Grand Cherokee's performance in its crash test regime. While it earned top marks in some categories – such as side impact crash tests, and front crash avoidance (when fitted with optional safety equipment) – the Grand Cherokee registered a "Marginal" and "Poor" rating for its performance in the Small Overlap Front test. This simulates a vehicle hitting a static object, such as a utility pole, with only a fraction of its front end.

Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.