Leather Interior Low Miles White Convertible on 2040-cars

Auto blog

Chrysler purchases remaining shares from VEBA Trust, announces funding plan

It's official: The Detroit Three is now The Detroit Two and The Fiat Subsidiary, Chrysler. Both the Italian carmaker and The Pentastar announced the completion of cash payments and a Memorandum of Understanding (MOU) on future payments necessary to make the Chrysler Group a wholly-owned subsidiary of Fiat. As previously detailed, Chrysler made a cash payment of $1.9 billion and Fiat North America made a cash payment of $1.75 billion to the Voluntary Employment Benefit Association (VEBA) run by the United Auto Workers union.
On top of that, Chrysler Group signed an MOU that agrees to payments of $700 million to the VEBA in four installments, the first of which was made concurrently with the other cash payments. And for you trivia mavens, the full name of the UAW is the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America. So go impress your loved ones with that nugget after you check out the press release below.

Trucks, SUVs — and Camry — shine in mixed U.S. January vehicle sales

DETROIT — Automakers posted mixed U.S. new vehicle sales data for January, with American consumers continuing to abandon passenger cars for the larger pickup trucks, SUVs and crossover models that manufacturers also love because they are far more profitable. Total industry auto sales for the month rose 1 percent versus January 2016. According to Autodata Corp, which tracks industry sales, the seasonally adjusted annualized rate (SAAR) of U.S. car and light truck sales in January fell to 17.12 million units from 17.44 million a year earlier. Analysts polled by Reuters had expected a January SAAR of 17.2 million units. U.S. auto industry sales fell 2 percent in 2017 to 17.23 million vehicles after hitting a record high in 2016 and are expected to drop further in 2018 despite a solid economy. Interest rates are rising and around 4 million late-model used cars will return to dealer lots this year to compete with more expensive new ones. Automakers have used consumer discounts to boost sales, a growing concern for observers who say this undermines resale values and profits. Discounts declined in January, but remained above 10 percent of manufacturers' recommended prices. ""I think the industry has accepted that (sales) volumes will fall somewhat in 2018 ... and I don't think the industry is going to go over the cliff with insane incentives," Mike Jackson, chief executive officer of AutoNation Inc, told Reuters after his company, the largest U.S. auto retail chain, posted a higher quarterly net profit. Mark Wakefield, head of the North American automotive practice for consultancy AlixPartners, had a gloomier perspective. The industry's less-than-stellar sales performance for January showed "we are now past the peak," he said. "Automakers are now selling the deal instead of the vehicle," he said. "That's a tough spot to be in because that treadmill is hard to get off once you're on it." General Motors January sales rose 1.3 percent, driven by a 16 percent rise in fleet sales. Sales to consumers fell 2.4 percent. GM posted strong gains for models such as the Silverado pickup truck and Equinox crossover model, while its passenger cars continued to struggle. Ford The Blue Oval posted a 6.6 percent sales decline for January, with retail sales down 4.3 percent. Sales of Ford's F-Series pickup trucks - America's best-selling vehicle brand for decades — rose 1.6 percent. Passenger cars were down more than 23 percent.

2017 Chrysler Pacifica isn't your parents' Town & Country [w/video]

I'm sick of people hating on minivans. There's something about two incredibly functional sliding doors that give people this idea that they've given up, and given in to family life. But if the van you see here had two fixed rear doors, and maybe an extra inch of ride height, it'd be gobbled up like mad as part of the growing crossover craze. So yes, the 2017 Chrysler Pacifica – that's right, Pacifica – is a minivan. But it's so packed full of features, technology, and functionality, that you really ought to look past those sliding doors. There promises to be an incredibly rewarding vehicle within. The 2017 Pacifica rides on an all-new platform, but dimensionally, it's similar to the outgoing Town & Country. That whole "ugh, minivans" thing is one of the reasons why Chrysler decided to axe the Town & Country name for 2017. Simply put, the target customers for the new minivan (young parents) would have grown up in their parents' Town & Country vans (or Caravans, or Voyagers...) in the 1980s. Three decades later, FCA wants to make it absolutely clear that this isn't just your parents' minivan. Why it chose to bring back the name of a lackluster part of its mid-2000s history, though, is anyone's guess. The 2017 Pacifica rides on an all-new platform, but dimensionally, it's similar to the outgoing Town & Country. It's a tenth of an inch shorter in length, about an inch wider, and roughly half an inch taller. The body itself looks great – influence from the 200 sedan is obvious up front, and around back in the taillights, and top-trim models can be had with 20-inch wheels – a big change from the old van, which topped out with 17-inch rolling stock. There's big weight-savings here, too – the Pacifica tips the scales at 4,330 pounds in base spec, which is over 300 pounds less than the Town & Country. Inside, it's more of the same from Chrysler. The interior design uses language brought up from the 200, and the different color and material choices look really rich, especially in Limited Premium trim. Of course, I'll wait to make final judgments on the cabin until I see it in base cloth spec, rife with kid fingerprints and french fries ground into the carpets. Up front, the Uconnect 8.4-inch touchscreen houses familiar infotainment functionality, and for backseat passengers, there's a new Uconnect Theater system, with a pair of 10-inch touchscreen displays.