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Posts Tagged ‘chrysler news’

Alphabet Soup as Chrysler Becomes FCA US LLC

Familiar name to remain only on Chrysler brand products.

by on Dec.16, 2014

More changes for the newly merged Fiat Chrysler.

After nearly 90 years, it’s the end of the road for the familiar Chrysler corporate name.

Just two months after the maker completed its merger with Italy’s Fiat, the U.S. side of the company will abandon the familiar Chrysler Group LLC to become FCA US LLC.

What's in a Name!

The name is meant to better reflect that of the new parent company, the global Fiat Chrysler Automobiles NV.

“FCA US continues to build upon the solid foundations first established by Walter P. Chrysler in 1925 as well as a rich Fiat heritage that dates from 1899,” the company said in a prepared statement.

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Chrysler Expands Takata Recall as 10 Automakers Begin Airbag Probe

Will replacement airbags face a similar problem?

by on Dec.12, 2014

The 2005 Chrysler 300C is included in the latest expansion of Chrysler's airbag recall.

Chrysler is the latest automaker to expand its recall of vehicles equipped with potentially defective airbags provided by the embattled Japanese supplier Takata.

The announcement came hours after the Detroit automaker met with a group of nine rivals in an effort to understand the problems with the airbag systems that have so far been linked to at least five deaths and 46 injuries in the U.S. alone.

On Top of the News!

Chrysler will boost its recall of Takata-equipped vehicles by 208,783. It’s the second time in a week that the smallest of the Detroit makers expanded its effort to deal with the airbag problem. Chrysler now has recalled 617,000 vehicles with the suspect Takata safety systems. But the figure jumps to nearly 11 million when other manufacturers are factored in.

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First Look: 2015 Chrysler 300

LA debut for maker's "gold standard."

by on Nov.19, 2014

In your face, the 2015 Chrysler 300 grille is 30% larger than the outgoing model's.

It’s big, bold and in your face. And to fans, that’s the best part of the Chrysler 300 sedan. If anything, the maker may have backed off a bit too much when the full-size model was redesigned several years ago, says Chrysler’s top stylist. It isn’t making that mistake again as it rolls out an updated 2015 Chrysler 300 family at this year’s L.A. Auto Show.

The mid-cycle update picks up on the most critical cues of the 2005 sedan, as well as the original 1955 Chrysler 300, according to design director Ralph Gilles, who says the goal was to give the 2015 Chrysler 300 “the presence and attitude it deserves.”

We're Your Gold Standard!

It also gets a new model in the mix, the 300C Platinum, which gives the sedan a much more upscale appearance and feel.

“That’s what this car has to go back to,” adds Chrysler President Al Gardner, who concedes the last update was a little too bland to remain the brand’s “gold standard.”

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Fiat Expects to Finish Ferrari Spinoff Next Summer

IPO part of a plan to grow FCA globally.

by on Nov.14, 2014

Sergio Marchionne told reporters in Italy that the Ferrari IPO will now happen in the second or third quarter of 2015.

The Ferrari initial public offering is now expected to be complete between the second and the third quarter of 2015, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne told reporters in Italy.

FCA announced last month it planned to spinoff Ferrari from the group, selling a 10% stake via a public offering and distributing the rest of FCA’s stake in Ferrari to its shareholders. The Ferrari IPO is expected to raise $5 billion to reduce FCA’s debt and bolster the company’s balance sheet.

Power!

The spinoff is part of a bigger capital-raising plan that also includes a $2.5 billion convertible bond issue to help cut debt and fund an ambitious business plan aimed at turning FCA into a global carmaker. (more…)

GM Offers Gift Cards to Get Owners to Make Recall Repairs

$25 cards will be activated after ignition switch repairs are completed.

by on Nov.06, 2014

General Motors is using $25 gift cards from Amazon and other retailers to lure owners of recalled vehicles into dealers to complete repairs.

With at least 30 deaths now attributed to a defective ignition switch in more than 2 million General Motors vehicles sold in the U.S., you might think owners would race to get the deadly problem fixed as soon as possible. In fact, despite a widely publicized recall, only slightly more than half of the owners have yet dealt with the problem.

Some have delayed because of an initial shortage of replacement parts. But it is normal, according to federal data, for a sizable share of motorists to ignore recall notices for even the most deadly defects.

Global Safety News!

Chrysler is struggling with a similar issue. It recalled 2.3 million Jeeps for to install trailer hitches to solve a problem with exposed fuel tanks that may catch fire. Only 119,000 owners have responded to the notices with just 90,000 getting the repairs done. The maker is currently setting up a website to raise the response rate. (more…)

Chrysler Sees 32% Jump in 3Q Profits

Maker rides strong sales of Jeep and Ram during quarter.

by on Nov.05, 2014

Chrysler saw its net income rise 32% during the third quarter due to an increase in vehicle sales, like the Chrysler 200.

Chrysler Group LLC reported that its net income increased by 32% to $611 million for the third quarter while its revenue increased by 18% to $20.7 billion. The increases came on the backs of improved sales across its lineup.

“Jeep sales were up 44% while Ram sales were up 27% and marketshare in the U.S. increased by one full point to 12.3%,” said Richard Palmer, Chrysler’s chief financial officer. “We’re clearly the fastest growing company in the American market.”

Your Inside Source!

The automaker expects worldwide vehicle shipments to reach 2.9 million units this year, which will generate $80 billion in revenue with adjusted net income coming in between $2.3 billion and $2.5 billion, Palmer said. (more…)

Ram Truck Sales Bolstering Chrysler Group Profits

Brand making inroads in full-size pickup segment.

by on Oct.31, 2014

The Ram 1500 EcoDiesel is the brand's fastest-selling model. Ram is gobbling up marketshare in the full-size pickup segment.

The battle for pickup truck supremacy is getting more intense and Ram is enjoying a run that is not only gaining it a larger marketshare, but also a major contribution to Chrysler Group’s bottom line.

While Ram is still No. 3 on the list of full-size truck sales, it’s an active player in the segment and, perhaps more importantly, the brand’s leadership is ready to jump in and scrap for sales.

Power Up!

Bob Hegbloom, the new head of the Ram brand, said during a luncheon meeting with reporters that he was both surprised and disappointed with the Chrysler Group’s showing in the Consumer Reports annual quality survey, adding the company was moving to fix the problems cited by he influential magazine. (more…)

Fiat Chrysler Earnings Hold Steady as Maker Prepares to Spin Off Ferrari

Investors quickly warm to news.

by on Oct.29, 2014

Sergio Marchionne may have reason to smile as investors finally begin bidding up FCA stock.

Now officially merged, Fiat Chrysler Automobiles said its third-quarter earnings were roughly in line with last year’s numbers.

Though that was essentially what analysts had anticipated, the automaker delivered a surprise by announcing it will spin off its iconic Ferrari brand – just months after CEO Sergio Marchionne appeared to indicate such a move wasn’t in the works.

You've Earned It!

The decision “will preserve the cherished Italian heritage” of Ferrari, said a statement from FCA Chairman John Elkann. Ferrari has been facing a fair bit of turmoil lately after the ouster of its long-time chief executive and its unexpectedly poor performance in the popular Formula One racing series.

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FCA Quality Chief Steps Down

Betts departs day after maker ranked last in quality.

by on Oct.28, 2014

Chrysler quality czar Doug Betts resigned a day after the company's brands finished at the bottom of Consumer Reports' quality rankings.

Just a day after Chrysler Group finished dead last in vehicle quality, the maker’s long-time quality chief Doug Betts stepped down to “pursue other opportunities.”

It was announced yesterday that Fiat Chrysler’s American brands – Chrysler, Dodge and Ram – were at the bottom of Consumer Reports’ annual reliability rankings and took a significant tumble from the previous year’s results.

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Betts, who had been Senior Vice President of Quality since 2009, will be replaced by Mark Chernoby, who will head quality for FCA, and Matthew Liddane, who will lead quality in North America for Chrysler Group. The appointments are effective immediately. (more…)

Chrysler SEMA Concepts Hint at Niche Products to Come

Mopar generating double-digit growth for maker.

by on Oct.24, 2014

The Dodge Challenger T/A concept is a 485-horsepower beast that the maker is displaying at the SEMA show.

It’s a beautiful autumn morning as Mark Trostle leads a group of journalists out to the design department courtyard behind the Chrysler Technology Center.  “It’s like Candyland out here,” says the chief designer for Fiat Chrysler Automobile’s Mopar division, as he surveys an assortment of concept vehicles that will soon head to Las Vegas for the annual SEMA Show.

That’s the yearly gathering of the automotive parts and accessories world, a fast-growing industry that generates more than $30 billion in business annually. Not surprisingly, makers like Fiat Chrysler have been increasing their presence at SEMA each year hoping not only to put a halo around their brands, but also to help sell more of their own parts and accessories.

The Last Word!

Mopar, in fact, has been generating double-digit growth in recent years, in part by coming up with striking concept vehicles that illustrate ways to use products from its own parts catalogue. But it’s also going to be showing several special concepts that could soon be put, in whole, into production by various Fiat Chrysler brands. (more…)