Stellantis, the manufacturer behind Chrysler, Dodge, Jeep, Ram, and Fiat, announced on Friday that none of its brands are for sale.

This statement was made following the submission of a 17-page letter by Frank Rhodes Jr., a great-grandson of Walter P. Chrysler, who expressed his interest in purchasing Chrysler and Dodge to enhance their operations.

The letter, which included various concerns addressed to Stellantis CEO Carlos Tavares, was dated August 26 and was shared with the Detroit Free Press, part of the YSL News Network.

Rhodes proposed “an audacious plan for the company to preserve its American legacy and rejuvenate its brand by returning to its roots in design innovation and affordable vehicles.” He requested that Stellantis separate Chrysler, Dodge, and Mopar from the rest of the company, allowing him to acquire their operations, facilities, and workforce.

After taking ownership, Rhodes stated he plans “to initiate a bold design and renewal initiative by recruiting innovative management, concept creators, and enthusiasts, including former employees, to create an exciting resurgence for the CHRYSLER/DODGE brand.”

He mentioned that his plan would enable Stellantis “to gracefully and profitably divest from a brand that it appears to have little interest in maintaining and is attempting to quietly exit without attracting much attention or causing unrest within the UAW membership.”

However, it remains uncertain whether Rhodes has the financial backing necessary for such a purchase. He suggested naming his new venture New Chrysler/Dodge LLC and mentioned intentions to introduce a new management team. Additionally, he expressed plans to join UAW rallies to advocate for the re-employment of workers who had been laid off.

On the same day, Stellantis formally turned down the offer. In a statement sent to the Detroit Free Press by spokesperson Jodi Tinson, the company reaffirmed its dedication to enhancing all its brands to achieve profitability.

“Stellantis acknowledges the interest in its North American brands and reaffirms the Company’s commitment to its entire portfolio of 14 powerful, iconic brands, each given a 10-year plan for profitability and sustainability,” read the statement. “Similar to Jeep and Ram, Chrysler and Dodge are central to Stellantis’s transition to clean mobility and will benefit from the group’s advanced technology and scale. The Company will not be considering the separation of any of its brands.”

In response to the Stellantis statement on Friday afternoon, Rhodes expressed his “great disappointment” at learning that the company’s reply to his proposal was communicated to the media instead of directly to him.

“Since I sent the proposal directly to Carlos Tavares and Christine Feuell (CEO of Chrysler Group), I anticipated a direct reply,” Rhodes stated. “I hope that moving forward we can have more direct communication, or at least be copied in on replies. I will have a formal response ready on Tuesday.”

Stellantis has been facing challenges with its sales and profits in the U.S. In the second quarter, it reported sales of 344,993 vehicles, a 21% decrease compared to the same quarter last year when 434,648 vehicles were sold. Only the lower-volume Fiat and Alfa Romeo brands saw sales increases. Jeep fell by 19%, Ram by 26%, Chrysler by 19%, and Dodge by 17% in comparison to the same quarter in 2023. Alfa showed an 8% increase, while Fiat reported 316 vehicles sold in that quarter, up from 144 the previous year.

The automaker also reported a significant decrease in net profit for the first half of the year, down 48%, though it remained profitable overall. These declines, along with several executive departures and job cuts—through both voluntary buyouts and layoffs, including plans to eliminate a shift at the Warren Truck Assembly north of Detroit—prompted Tavares to visit Stellantis’ headquarters in Auburn Hills earlier this month to address the company’s issues in North America and seek solutions.

Tavares has pointed out the “arrogance” of the company in relation to some of the ongoing problems, citing issues with production or surplus inventory, and he has mentioned challenges at a couple of U.S. plants without providing extensive details.

Contact Jamie L. LaReau: jlareau@freepress.com. Follow her on Twitter @jlareauan.