Thu, Aug. 6, 2:25 AM
- Automakers recalled more cars in the U.S. through the end of July (34.5M vehicles) than during any other similar time frame except 2014, highlighting the lax quality standards of the auto industry and unprecedented government crackdown on safety lapses.
- Notables: Honda (NYSE:HMC) recalled 8M vehicles due to defective Takata (OTCPK:TKTDY) air bags; Hummer (NYSE:GM) got battered with fire hazards linked to its ventilation systems; Fiat Chrysler (NYSE:FCAU) called back more than 9.6M vehicles due to cybersecurity gaps and rear gas tank fires.
Wed, Aug. 5, 2:40 PM
- Fiat Chrysler Automobiles (FCAU +0.1%) and Harman International (HAR +6.4%) are under scrutiny for waiting 18 months to tell the NHTSA about a security flaw that exposed over a million cars to remote hacking.
- Fiat has already worked out a settlement with the agency, while Harman is looking to limit damage.
- Security in the automobile sector could be in the spotlight again later this week at a cybersecurity conference where a group of hackers are expected to demonstrate vulnerabilities through the General Motors (NYSE:GM) Onstar system app. GM is already working on a fix, according to Popular Science.
- Previously: Hacking demo leads to recall of 1.4M Fiat Chrysler vehicles (July 24)
Mon, Aug. 3, 8:43 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) recorded its best month of June sales since 2005. Records were set for the month by the Wrangler, Cherokee, Patriot, and Compass models.
- Brand sales growth: Fiat -15% to 3,235; Chrysler +10% to 25,722; Jeep +23% to 73,216; Dodge -13% to 37,649; Ram +1% to 38,157; Alfa Romeo 48 (new).
- Model sales growth: Jeep Patriot +22% to 9,493; Jeep Wrangler +18% to 19,320; Jeep Cherokee +13% to 16,699; Chrysler 200 +85% to 15,108; Dodge Dart -22% to 5,866; Ram P/U +1% to 36,019; Chrysler Town & Country -43% to 6,440; Fiat 500 -17% to 1,959; Alfa Romeo 4C (new) 48.
- The automaker says it ended the month with 82 days supply of inventory vs. 70 days in June.
- Previously: Fiat Chrysler Automobiles July U.S. sales: +6.2%
Mon, Aug. 3, 8:35 AM
Fri, Jul. 31, 1:50 PM
- The NHTSA is investigating if other automakers are at risk of hacking attacks after 1.4M Fiat Chrysler automobiles were recalled last week due to an exposure highlighted in Wired magazine.
- The regulator plans to focus on if wireless components supplied to Fiat are also used in other vehicles on the road in a way that isn't fully secure from remote access.
- The U.S. Copyright Office is also a major player in the hacking drama. This fall the government body will rule on if third-party researchers can access components and software to check for vulnerabilities. The open source vs. proprietary debate will be familiar to tech investors.
- Previously: Automakers start to tackle hacking issue (Jul. 23 2015)
- Previously: More security flaws seen in connected vehicles (Jul. 31 2015)
- Previously: Hacking demo leads to recall of 1.4M Fiat Chrysler vehicles (Jul. 24 2015)
- Automaker stocks: GM, F, TM, HMC, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:GELYF, FCAU, OTCPK:NSANY, OTCPK:DDAIF, OTCPK:MZDAY, TSLA.
Fri, Jul. 31, 1:55 AM
- White-hat hacker Samy Kamkar has released a video showing a security flaw in GM's (NYSE:GM) OnStar vehicle communications system that can be remotely accessed to unlock cars and start engines.
- The move comes just one week after Fiat Chrysler (NYSE:FCAU) recalled some 1.4M vehicles after hacking experts demonstrated a more serious vulnerability in the Jeep Cherokee.
- That bug allowed them to gain remote control of a Jeep traveling at 70 mph on a public highway.
Fri, Jul. 31, 12:33 AM
Thu, Jul. 30, 4:17 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) is in more hot water. The automaker has now been sued by a Canadian law firm for more than $4B in damages, in connection with a massive recall it announced earlier in July.
- On Sunday, Fiat Chrysler got slapped with a record $105M fine for safety recall lapses, and the carmaker is warning that it faces a U.S. product drought through 2016.
Wed, Jul. 29, 5:30 PM
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Mon, Jul. 27, 8:26 AM
- Fiat Chrysler (NYSE:FCAU) slides in early trading after being tagged with a record fine over its safety practices.
- As part of the deal with regulators, Fiat agreed to hire an independent monitor to oversee safety issues.
- Analysts expect limited immediate impact to U.S. sales from the development with rivals Honda and GM tackling major safety flaps of their own.
- FCAU -2.71% premarket in the U.S. after losses of over 3% in European trading.
Sun, Jul. 26, 7:09 AM
- The NHTSA is close to hitting Fiat Chrysler Automobiles (NYSE:FCAU) with a record $105M fine for recalls affecting more than 11M vehicles, adding to the mounting scrutiny of the automaker's safety practices.
- The penalties are tied to legal violations in an array of areas, including misleading regulators, inadequate repairs, and failing to alert car owners in a timely manner.
- Fiat Chrysler is expected to sign a consent order agreeing to the fines, which could be unveiled as soon as Monday.
Fri, Jul. 24, 1:24 PM
- Kelley Blue Book forecasts new car sales in the U.S. will increase 2.6% Y/Y in July to 1.47M units, led by a 13.4% jump in the compact SUV/crossover segment.
- Forecasts by major manufacturers are posted below.
- General Motors (NYSE:GM): +0.7% Y/Y to 258K units, market share of 17.6%.
- Ford (NYSE:F): +0.8% to 214K, market share of 14.6%.
- Fiat Chrysler Automobiles (NYSE:FCAU): +4.4% to 175K units, market share of 11.9%.
- Toyota (NYSE:TM): -0.4% to 215K units, market share 14.6%.
- Honda (NYSE:HMC): +2.3% to 139K units, market share 9.5%.
- Nissan (OTCPK:NSANY): +4.6% to 127K units, market share 8.6%.
- Hyundai/Kia (OTC:HYMLF): -0.3% to 119K, market share 8.1%.
- Volkswagen (OTCQX:VLKAY): +5.1% to 52K, market share 3.5%.
Fri, Jul. 24, 10:58 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) recalls 1.4M vehicles to update software to protect vehicles from remote manipulation through a mobile network.
- The recall action is a direct response to a coordinated hack of a Jeep vehicle driven by a Wired writer.
- Models recalled include Dodge Viper, Ram (1500, 2500, 3500, 4500, 5500) pickups, Jeep Grand Cherokee and Cherokee SUVs, Dodge Durango SUVs, Chrysler 200, Chrysler 300, Dodge Charger, and Dodge Challenger.
- Fiat Chrysler Automobiles software update
- Previously: Automakers start to tackle hacking issue (Jul. 23 2015)
Thu, Jul. 23, 6:46 AM
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