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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.

Maserati confirms the Grecale SUV will get a high-performance version

Maserati will parachute its second SUV, the Grecale, into territory controlled by the Porsche Macan. It hasn't unveiled the model yet, but it has already confirmed a fire-breathing high-performance variant is in the pipeline. "We will have a Trofeo version of [the Grecale], we will have a Modena version of that. We will have a GT version," revealed William Peffer, the CEO of Maserati's North American division, in an interview with The Drive. While he stopped short of revealing specifications, Maserati saves the Trofeo name for its quickest and most powerful models. As of writing, all of its cars with the exception of the MC20 are available in Trofeo tune. They're powered by a twin-turbocharged, 3.8-liter V8 engine — even the smaller Ghibli — and they gain a number of chassis tweaks as well as several model-specific styling cues. We expect the Grecale will get a similar treatment. One ingredient of the traditional Trofeo recipe that the Grecale might not be cooked with is the V8. It's an older engine, and we're not sure that an eight-cylinder fits in the engine bay. Rumors claim the model will ride on an evolution of the Giorgio platform that Alfa Romeo's Stelvio and Giulia are built on, so the top engine might be a V6. Maserati is nearly done fine-tuning the Grecale. It will unveil the model in November 2021, and sales will start in time for the 2022 model year. Additional details about the firm's next SUV will emerge in the coming months. Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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