Nov. 27, 2014, 3:10 AM
- The NHTSA has given Takata (OTCPK:TKTDY) until Tuesday to declare that its air bag inflators are defective and issue a recall. If it does not comply, the NHTSA could begin steps to fine the Japanese air bag supplier up to $7K per vehicle and could force a recall.
- Takata has so far resisted the U.S. regulator's call to broaden its recall, which is currently limited to a few high-humidity states and territories where initial reports of air-bag ruptures have occurred.
- Stepping up its recalls today, Toyota (NYSE:TM) has announced that it would replace Takata air bags in 57,000 vehicles, and its subsidiary, Daihatsu (OTCPK:DHTMY), would recall 27,571 Mira minivehicles for the same reason.
- Yesterday, the NHTSA demanded that Chrysler (NYSE:FCAU) expand its Takata recall nationwide and begin notifying customers of the new campaign by Monday.
- Previously: Takata air bag crisis continues
- Previously: U.S. calls for national recall of defective Takata air bags
- Previously: Takata gets hit with U.S. criminal probe
Nov. 24, 2014, 3:19 PM
- Edmunds.com projects U.S. auto sales will rise 1.6% to 1.261M units in November.
- Projected sales volume growth by automaker: General Motors (NYSE:GM) +0.6% to 213.42K, Ford (NYSE:F) -1.4% to 186.98K, Toyota (NYSE:TM) +1.6% to 180.88K, Chrysler Automobiles Group (NYSE:FCAU) +14.9% to 163.49K, Honda (NYSE:HMC) +1.1% to 117.76K, Nissan (OTCPK:NSANY) -8.5% to 97.46K, Hyundai (OTC:HYMLF) -6.6% to 94.77K, Volkswagen (OTCQX:VLKAY) +4.2% to 46.24K.
Nov. 18, 2014, 6:19 PM
- The National Highway Traffic Safety Administration is seeking the recall of "millions of vehicles" containing Takata (OTCPK:TKTDY) airbags, and the DoT agency will "use the full extent of its statutory powers" to force action if Takata and auto manufacturers fail to "quickly agree" to a recall.
- Cars had been recalled only in areas along the Gulf coast with high humidity, but the NHTSA says it is basing the decision on a recent incident that happened outside of those areas.
- NHTSA also orders Takata and all 10 auto companies that use Takata's air bag inflators - BMW (OTCPK:BAMXY, OTCPK:BAMXF), Chrysler (NYSE:FCAU), Ford (NYSE:F), GM, Honda (NYSE:HMC), Mazda (OTCPK:MZDAY), Mitsubishi (OTCPK:MMTOF), Nissan (OTCPK:NSANY, OTCPK:NSANF), Subaru (OTCPK:FUJHY), and Toyota (NYSE:TM) - to provide detailed reports about ongoing testing of the products outside of the high-humidity regions that already had recalls in place.
Nov. 18, 2014, 7:38 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) car registrations +8.4% to 65,377 units in October, according to the European Automobile Manufacturers Association.
- YTD registrations +3.1% to 653,809 units.
- Market share: 5.9% in October, 5.9% YTD.
- Results include the Fiat, Lancia, Chrysler, Jeep, and Alfa Romeo brands.
- EAMA release (.pdf)
Nov. 15, 2014, 3:44 PM
- Judge J. Kevin Chason of the Superior Court of Decatur County, GA, has ordered Fiat Chrysler (NYSE:FCAU) CEO to make a videotaped, under-oath deposition.
- Fiat Chrysler had requested its CEO be excluded from testimony.
- The lawsuit alleges Mr. Marchionne, as CEO of the company, knew of a design flaw in the Jeeps that causes its fuel-tank to erupt when struck, but failed “to warn the American people about the danger of these fuel tanks.”
- Source: WSJ
Nov. 13, 2014, 10:52 AM| Comment!
Nov. 12, 2014, 10:06 AM
- The landmark emissions deal struck between the U.S. and China has implications for the automobile industry even if it is largely symbolic, according to analysts.
- There's some speculation that bickering between the nations over spying and other free trade issues won't reel in China-Western auto joint ventures and impact government EV subsidies as the nation stays focused on pollution control.
- Automaker stocks: GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTC:KIMTF, OTCPK:MMTOF, OTCPK:PEUGF, TTM, TSLA.
Nov. 11, 2014, 10:31 AM
Nov. 3, 2014, 2:40 PM
Nov. 3, 2014, 8:46 AM
- Chrysler Fiat Automobiles (NYSE:FCAU) announces it recorded its best October since 2001 in the U.S. for brands operating within Chrysler Group.
- Brand sales growth: Fiat +1% to 3,725; Chrysler +17% to 27,456; Jeep +52% to 55,198; Dodge -8% to 41,512; Ram +36% to 42,499.
- The automaker says it ended the month with 84 days supply of inventory vs. 71 days last month.
- Previously: Chrysler Group October U.S. sales
Nov. 3, 2014, 8:16 AM
- Chrysler Fiat Automobiles (NYSE:FCAU) unit sales +22% to 170,480 units vs. +20% consensus estimate.
- Jeep brand sales soared 52% Y/Y.
- Several Dodge models sold well during the month after a recharged marketing campaign.
- Truck sales increased 30% during the month to 131,328, while car sales fell 15% to 39,152.
Oct. 30, 2014, 10:31 AM| Comment!
Oct. 30, 2014, 7:55 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) plans to issue a $2.5B convertible bond and offer $100M worth of shares to help fund its aggressive growth plans.
- Shareholders opting in now for the convertible offering will receive shares in Ferrari as part of the transaction.
- "Today is a big clean-up day," says CEO Sergio Marchionne about the flurry of moves.
Oct. 29, 2014, 10:56 AM
Oct. 29, 2014, 9:35 AM
Oct. 28, 2014, 9:46 AM
- Fiat Chrysler Automotive (NYSE:FCAU) says its highest-ranking quality exec, Doug Betts, has left the company to pursue other interests.
- Insider Matthew Liddane was tapped by the automaker to fill the position.
- Earlier this week, Fiat Chrysler brands rated poorly on a study of reliability conducted by Consumer Reports.
- Consumer Reports: "Fiat-Chrysler sits at the bottom of the pack, with four of its brands—Dodge, Ram, Jeep, and Fiat—sweeping our least-reliable rankings."
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