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FCA US under-reported death and injury claims to NHTSA

The National Highway Traffic Safety Administration says FCA US significantly under-reported death and injury claims due to flaws in its early warning system. The government first discovered a potential problem with the automaker's reporting in late July, and FCA US has been investigating the issue since. NHTSA claims that the problem appears linked to the way the company gathers and reports safety information. The agency is still investigating how serious the flaws are and their causes. "This represents a significant failure to meet a manufacturer's safety responsibilities," NHTSA Administrator Mark Rosekind.Rosekind said in a statement. FCA US admits that it "identified deficiencies" in the reporting, but in a statement the company said that it notified NHTSA of the issue immediately. The company promised that it is taking this problem "extremely seriously" and pledged to remedy the situation. In late July, FCA US was hit with a potential $105-million fine by NHTSA for the way the automaker conducted some recalls. As part of that agreement, the company also consented to more rigorous oversight by safety regulators in the future and a buy-back of some affected vehicles. Other automakers have been punished for failing to submit EWR data. Honda incurred a $70 million fine in January from NHTSA for missing 1,729 incidents over 11 years. Ferrari had to pay $3.5 million in 2014 for not sending them in for three years. Statement from NHTSA Administrator, Mark Rosekind, on Fiat Chrysler Automobiles' under-reported discrepancy in FCA's Early Warning Report data September 29, 2015 "In late July, NHTSA notified Fiat Chrysler Automobiles of an apparent discrepancy in FCA's Early Warning Report data. FCA has informed NHTSA that in investigating that discrepancy, it has found significant under-reported notices and claims of deaths, injuries and other information required as part of the Early Warning Reporting system. Preliminary information suggests that this under-reporting is the result of a number of problems with FCA's systems for gathering and reporting EWR data. This represents a significant failure to meet a manufacturer's safety responsibilities. NHTSA will take appropriate action after gathering additional information on the scope and causes of this failure." – Mark Rosekind, NHTSA Administrator. Statement: TREAD Reporting September 29, 2015 , Auburn Hills, Mich.

European new car sales drop nearly 8% in first half of 2019

PARIS — European car sales dropped 7.9% in June, led by bigger declines for Nissan, Volvo and Fiat Chrysler (FCA), according to industry data published on Wednesday. Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, accentuating the decline. Registrations for the first half closed 3.1% lower, ACEA said. For European carmakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings. NissanÂ’s aging model lineup contributed to a 26.6% June sales slump while Volvo Cars, owned by ChinaÂ’s Geely, saw deliveries tumble 21.7%. Registrations also fell 13.5% last month at FCA, 10.1% at BMW, 9.6% at Volkswagen Group and 8.2% for both Mercedes parent Daimler and FranceÂ’s PSA Group. The Peugeot makerÂ’s domestic rival Renault suffered less, posting a 3.9% decline. By the Numbers BMW Chrysler Fiat Nissan Volkswagen Volvo Peugeot Renault

Fiat-Chrysler alliance in jeopardy due to Pentastar's IPO filing?

The four-year relationship between Fiat and Chrysler has thus far been beneficial for both automakers, but it has also proven to be a complicated battle between Sergio Marchionne and the United Auto Workers - the latter controlling the remaining 41.5 percent of Chrysler. With the recent filing for a US IPO, it looks like Marchionne and the UAW appear to be playing a billion-dollar game of chicken, with both sides far apart on how much the union's shares are worth. If it comes down to Chrysler's remaining stake being publicly traded, it could act to drive a wedge between the two companies.
According to Bloomberg, Fiat's chairman John Elkann says "if the IPO will take place, there will be two companies, and that's different than having a single one." Now, we're not great at math, but this sounds like the complete opposite of the full merger that Marchionne has been pushing for since taking the helm at Chrysler. Bloomberg notes that the UAW's shares should be worth around $5.6 billion, but Fiat could end up paying as little as $4.9 billion for Fiat to gain full control of Chrysler. A story by The Detroit News points out that Marchionne's "alleged low-balling" is just the latest hurdle the Auburn Hills-based automaker must overcome as its ownership is being fought over for the fourth time in 15 years.