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KBB Announces 2017 Best Buy Awards

IRVINE, Calif. — Kelley Blue Book today announced the winners of its 2017 Kelley Blue Book Best Buy Awards. The 2017 Honda Civic was named the Overall Best Buy of 2017, however, 11 other vehicles also took top honors for their respective categories. “Kelley Blue Book editors went to the unprecedented choice of honoring the ... Read More »

November 16, 2016

Marchionne Says He Doesn’t Plan to Testify at July Hearing

Sergio Marchionne, Fiat Chrysler Automobiles NV’s chief executive officer, said he doesn’t intend to speak at the hearing the U.S. National Highway Traffic Safety Administration set for July 2, reports Bloomberg Business. “We have a person who is responsible for regulatory compliance,” he said on the sidelines of an event Tuesday evening in Detroit. “He’s ... Read More »

May 20, 2015

Fiat Chrysler’s U.S. Unit Redeems Bonds due 2019

The U.S. unit of carmaker Fiat Chrysler Automobiles (FCA)(FCHA.MI) (FCAU.N) has redeemed senior secured notes that mature in 2019 with a total face value of $2.875 billion, a filing with U.S. market regulator SEC showed, reports Reuters. The notes, which carry a coupon of 8 percent, were redeemed at a price equal to their principal ... Read More »

May 20, 2015

Volkswagen Issues Second Recall for Minivan Ignitions

Volkswagen entered into a partnership with Chrysler in 2008 to help the German maker fill its void in the minivan segment in the U.S. Now that partnership is giving VW a headache as it’s recalling nearly 21,000 of the minivans for the second time, reported The Detroit Bureau. VW is recalling them again to fix ... Read More »

April 17, 2015

Chrysler to Recall More Than 228,000 Jeep Cherokees

Chrysler will recall more than 228,000 vehicles because their airbags could unexpectedly inflate without a crash, reported the NYTimes. The company will upgrade software governing side-curtain and seat-mounted side airbags in Jeep Cherokees from the 2014-15 model years, including more than 168,000 vehicles in the United States. Chrysler engineers initiated an investigation after getting reports ... Read More »

February 3, 2015

Government Loses $9.26 Billion on Auto Bailout

WASHINGTON, D.C. — According to a report from the U.S. Treasury Department released Monday, the government lost a total of $9.26 billion on its bailout of the auto industry during the Great Recession. The program closed after the Treasury sold its final shares of Ally Financial on Dec. 19, The Detroit News reports. The Treasury ... Read More »

January 3, 2015

Chrysler Renames Itself as FCA US

U.S. automaker Chrysler Group LLC said it had changed its name to FCA US LLC effective immediately to follow the naming convention of its parent Fiat Chrysler Automobiles (FCA), reported Reuters. Italian automaker Fiat SpA took management control of Chrysler in 2009 after the American company emerged from government-sponsored bankruptcy. Earlier this year Fiat completed ... Read More »

December 16, 2014

Chrysler Expands Takata Passenger-Side Air Bag Recall in U.S.

Chrysler Group is expanding its U.S. recall of older-model vehicles with Takata Corp passenger-side air bags, adding a second inflator design to the recall and more affected regions, reported Reuters. Chrysler, a unit of Fiat Chrysler Automobiles, said in a statement late Thursday that it was recalling 208,783 vehicles by adding the second inflator family ... Read More »

December 14, 2014

U.S. Regulator to Chrysler’s Marchionne: Get Act In Gear on Jeep Recall

U.S. government safety regulators on Thursday told Chrysler Group LLC Chief Executive Sergio Marchionne that the company “have to get their act in gear” to speed up repairs of recalled Jeep SUVs that face a heightened fire risk, reported Reuters. David Friedman, deputy director of the National Highway Traffic Safety Administration, was asked by reporters ... Read More »

November 24, 2014

U.S. Auto Regulator Seeks Nationwide Recall of Takata Air Bags

The U.S. auto safety regulator has told Japanese supplier Takata Corp and five automakers to expand nationwide a regional recall of potentially lethal air bags, increasing pressure on the industry to move faster in a growing scandal, reported Reuters. The National Highway Traffic Safety Administration (NHTSA) also scolded Takata for what it called “an unwillingness ... Read More »

November 19, 2014

Takata Senior VP to Testify Before U.S. Senate Committee

Representatives of Takata Corp, Chrysler Group Llc, Honda Motor Co Ltd and the National Highway Traffic Safety Administration will testify before the U.S. Senate Commerce Committee on Thursday to answer questions about the dangers posed by air bags supplied by Takata, reported Reuters. The final witness list, provided by a Senate aide, includes Hiroshi Shimizu, ... Read More »

November 18, 2014

Chrysler To Start Fixing Takata Air Bags In December

Chrysler Group LLC will start repairs on about 371,000 vehicles equipped with potentially defective Takata Corp. air bag inflators in December, nearly six months after it said it would comply with a request by U.S. safety regulators to make fixes, reported The WSJ. The company, in a letter to the National Highway Safety Traffic Administration ... Read More »

November 11, 2014

Chrysler’s Profits Up 32% to $611 Million in Q3

DETROIT – Chrysler Group LLC’s net profits rose 32 percent to $611 million in the third quarter, the Auburn Hills company announced Wednesday, reported MLive. That comes on top line growth of 18 percent to $20.7 billion for net revenues. The revenue growth was driven by higher vehicle shipments, in particular the all-new Jeep Cherokee ... Read More »

November 6, 2014

Chrysler Recalls More Than 900,000 Vehicles Globally in Two Actions

Chrysler Group on Thursday announced two global recalls of more than 900,000 cars and SUVs combined for problems that could cause fires, reported Reuters. Chrysler, a unit of Fiat Chrysler Automobiles, is recalling about 470,000 cars and SUVs globally from model years 2011 through 2014 and equipped with a 3.6 liter engine and a 160 ... Read More »

October 16, 2014

Chrysler Recalls 184,000 SUVs to Replace Airbag Part

DETROIT, MI – Chrysler Group LLC announced Tuesday it is recalling 184,215 SUVs, including 126,772 in the U.S., to replace a part in the vehicles’ airbag systems, reported Michigan Live. The occupant restraint control modules in certain model-year 2014 Dodge Durango and Jeep Grand Cherokee SUVs could have an electrical short-circuit, causing air bag warning ... Read More »

October 14, 2014