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Chrysler recalls 162,000 Pacifica minivans over stalling fears

Fiat Chrysler Automobiles said on Friday it was recalling more than 162,000 2017 Chrysler Pacifica minivans because a software glitch may cause the vehicles to stall. The Italian-American automaker said one accident had potentially been linked to the defect. Under a rare set of conditions, a vehicle's engine control module may incorrectly assess the engine's operating status and cause it to stall, Fiat Chrysler said. Dealers will update the engine control software, the company said, adding that most incidents associated with the glitch took place at low speeds or when the vehicles were starting up. The Center for Auto Safety, a consumer advocacy group, petitioned the U.S. National Highway Traffic Safety Administration in November to investigate the issue after it said at least 50 owners had reported stalling in new Pacifica minivans. The agency asked Fiat Chrysler to answer questions about the stalling last month. Fiat Chrysler said it had begun investigating the issue before the petition was filed. The recall includes nearly 154,000 vehicles in the United States and more than 8,000 others around the world, but the company did not immediately say when the new software would be available. Hybrid gas-electric versions of the minivans are not included in the recall. (Reporting by David Shepardson; Editing by Tom Brown)Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2017 Chrysler Pacifica First Drive

Marchionne impressed by 'that kid' Elon Musk

FCA boss Sergio Marchionne has a reputation as an incredibly canny businessman. Some examples of his acumen include finishing Fiat's takeover of Chrysler from a beachside home and winning a challenge with Luca di Montezemolo for the reins of Ferrari. The Italian exec recently took a trip to California and lavished praise on Elon Musk after a meeting with the Tesla CEO. Although, the compliment did come off as a little patronizing. "I'm incredibly impressed with what that kid has done," Marchionne said to Reuters about his conversation with Musk. Unfortunately, the FCA exec didn't go into detail about what he and Tesla boss discussed. Although, calling the 43-year-old billionaire a "kid" does seem a little rude, especially given Musk's success with Paypal, in the auto industry and at SpaceX. While in the Golden State, Marchionne also had a talk with Apple CEO Tim Cook. Although, he was similarly cagey about what the men discussed. "He's interested in Apple's intervention in the car, that's his role," Marchionne said to Reuters about the conversation without divulging more. The two companies already have some small links thanks to Ferrari's use of the tech giant's products. As one additional highlight for Marchionne's California trip, he took a ride in the Google autonomous car. News Source: ReutersImage Credit: Paul Sancya / AP Photo Green Chrysler Fiat Tesla Green Culture Technology Emerging Technologies Autonomous Vehicles Electric Sergio Marchionne FCA

Chrysler stays IPO until 2014

There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.