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Chrysler reportedly to drop 300 sedan, build Portal millennial minivan

Automotive News Canada pointed its divination stick at Chrysler as part of its Future Product Pipeline series. The publication dug up two revelations, one being that the Chrysler 300 has two more years to live, ending production come 2020. The article said nothing about the 300's platform twin, the Dodge Charger. The death of the 300 would leave the Pentastar brand with just one offering, the Pacifica minivan. AN Canada's other revelation was Chrysler would allay that fate by putting the "six-passenger multi-purpose" Portal concept into production for 2020. The automaker that wants to be known for its people haulers introduced the Portal concept at the 2017 Consumer Electronics Show. The big bang at the time was the Portal having been designed by millennials in Chrysler's design department, specifically for millennial buyers. Feature bait for the confounding demographic included facial and voice recognition so the Portal knew who was in the car and could tailor the driving environment and cockpit to their tastes; a panoramic dashboard; a configurable interior so the owner can create space where needed, up front or in the cargo area; vehicle-to-vehicle and vehicle-to-infrastructure tech; upgradeable Level 3 autonomy; a retractable aviation-like steering wheel; and customizable light signatures. We didn't get many specs on the show car, but the all-electric powertain employed a 100-kWh lithium-ion battery, had a range of at least 250 miles, and could restore 150 of those miles in 20 minutes hooked up to a DC fast charger. Reasonable specs for a real vehicle. It wouldn't be an outrageous move for Chrysler to create a production version of the Portal. When the concept came to the 2018 Detroit Auto Show, former Fiat Chrysler CEO Sergio Marchionne told media he intended to roll out the "fifth generation" of family cars — the next evolution of the wagon-minivan-SUV-crossover progression — and he expected the Portal or something similar to make production at some point. The Detroit News predicted we'd get a Portal sometime after 2018. Tim Kuniskis, then head of FCA passenger cars in North America, said the company viewed the Portal as that fifth-gen product and "the future of family transportation." On top of that, the designers based the front-wheel-drive Portal on the Pacifica's platform, and Marchionne was vocal in his desire for another retail product on that architecture. He had said, "I need another minivan.

FCA issuing software update for 1.4M vehicles to prevent hacking

In the wake of a Jeep Cherokee being hacked remotely while on the road through its Uconnect infotainment system, FCA US is now issuing a software update for 1.4 million vehicles in the United States. Affected customers will receive a USB stick in the mail with the improved version; owners can check this website to see if their cars are affected. A large variety of models with FCA's 8.4-inch touchscreen infotainment system are affected. They include the 2015 Chrysler 200, 2015 Chrysler 300, 2015 Dodge Charger, and 2015 Dodge Challenger; 2013-2015 Dodge Viper; 2013-2015 Ram 1500, 2500, and 3500; 2013-2015 Ram 3500, 4500, and 5500 chassis cab; 2014-2015 Jeep Grand Cherokee and Cherokee; and 2014-2015 Dodge Durango. According to FCA in its announcement, the new software "insulates connected vehicles from remote manipulation." As of July 23, the company also "fully tested and implemented within the cellular network" additional security to prevent access to many of a vehicle's systems. FCA US says that it's conducting this campaign out of an abundance of caution and disputes the notion that there's a defect with these vehicles. Beyond the demonstration of the hack in the Cherokee, the automaker says that it's unaware of any other reports of these attacks actually happening. Related Video: Statement: Software Update July 24, 2015 , Auburn Hills, Mich. - FCA US LLC is conducting a voluntary safety recall to update software in approximately 1,400,000 U.S. vehicles equipped with certain radios. The recall aligns with an ongoing software distribution that insulates connected vehicles from remote manipulation, which, if unauthorized, constitutes criminal action. Further, FCA US has applied network-level security measures to prevent the type of remote manipulation demonstrated in a recent media report. These measures – which required no customer or dealer actions – block remote access to certain vehicle systems and were fully tested and implemented within the cellular network on July 23, 2015. The Company is unaware of any injuries related to software exploitation, nor is it aware of any related complaints, warranty claims or accidents – independent of the media demonstration.

Buy Ford and GM stock and make 5%

Want to make a five-percent return when 10-year treasuries are paying around two percent? Ford (F) and General Motors (GM) have solid balance sheets, strong cash flow, solid earnings, and growing markets. By all accounts, they are smart investments. But the market is down on these stocks. Why? Some of the stupid excuses include: They are cyclical companies The Detroit 3 have lost 3.5 million in sales since 2000 The world economy is shaky GM recently filed for bankruptcy Their markets have peaked They haven't changed their ways Let's take these criticisms one by one: They Are Cyclical Companies Yes, they are cyclical. Every company is cyclical. Every industry is cyclical. Some more than others, but not every company is immune from swings in the market. Banks used to be 'non-cyclical' leader, not anymore. Airline stocks are just as cyclical as auto stocks, yet they are trading at multiples greater than the auto industry. Why? And what accounts for the irrational stock price for Tesla (TSLA)? At least Ford (F) and General Motors (GM) make money and have positive cash flows. In fact, both companies have a net positive cash position. They have more cash on hand than liabilities. Auto sales in the United States hit a record 17.5 million vehicles in 2015. During the Great Recession, Ford (F) and General Motors (GM) cut their break even points to 10 million vehicles per year. Anything above an annual U.S. volume of 10 million vehicles is profit. And what a profit they make. Sales of Ford's F-150 continues to be the best-selling vehicle in the United States for over 30 years. Detroit 3 Have Lost 3.5 million in Sales Since 2000 Automotive News reports General Motors (GM), Ford (F) and Chrysler (FCA) have lost a combined 3.5 million vehicles sales since 2000. So how can they be making more money? Two big reasons – Fleet Sales and the UAW. Fleet Sales The Detroit 3 used to own car rental companies to keep their factories running. Ford owned Hertz (HTZ), General Motors owned all of National Car Rental and 29 percent of Avis, and Chrysler, the forerunner to Fiat Chrysler (FCA), used to own Thrifty Car Rental and Dollar Rent-A-Car. The Detroit 3 owned these rental companies to have a place to sell their bad product and keep their factories running. These were low margin sales, and in many cases, were money losers for the Detroit 3. They no longer own auto rental companies.