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Jeep Begins Fixing 1.56 Million Recalled Grand Cherokee, Liberty SUVs

Chrysler is just now beginning the big job of fixing 1.56 million older Jeep SUVs seven months after a recall was announced, according to The Detroit News. Jeep Grand Cherokees sold between 1992 and 1998 and Jeep Liberty models sold between 2002 and 2007 are being recalled because the gas tank can leak in the event of a rear-end collision, leading to a fire. The National Highway Traffic Safety Administration originally requested the recall of 2.7 million vehicles. Chrysler initially disputed NHTSA's findings and seemed willing to go through a court battle until an 11th-hour deal reduced the number of vehicles involved in the recall. The remaining vehicle owners left out of the recall will receive a "customer service action" notification and may not get fixed. Chrysler says the vehicles are safe and need no repairs. Fixing the 1.56 million Jeeps will cost Chrysler $151 million. NHTSA cited 51 deaths causes by such tank fires. Chrysler plans to install protective trailer hitches to protect the gas tanks, but even the automaker admits the hitches will only provide incremental protection in a low-to-moderate speed rear-end crash. Related Gallery 2014 Jeep Cherokee Test Drive View 9 Photos Recalls Chrysler Jeep jeep liberty

Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

Catching up with Chrysler's EV catch-up plan

At your home or office? Those are the key words for how Chrysler and its Fiat affiliate want to narrow the plug-in vehicle sales gap between themselves and more plug-in-centric companies like Nissan and Ford, according Wards Auto. When the gap will narrow is anyone's guess. The US automaker, long a laggard in electric-powertrain development, is working on an wireless, inductive charging system with Qualcomm and which could spur sales of plug-in vehicles for personal use. A wireless system would allow for hands-free charging for vehicles like the Fiat 500e, the company's only plug-in vehicle being sold to the public in the US as well as a plug-in hybrid minivan that's in the works for 2016. On the business front, Chrysler is working with nonprofit NextEnergy on developing a reverse-power-flow system. That would allow for fleet-owning businesses to draw power from their plug-in vehicles' batteries during mid-day peak-energy times, when electricity rates are highest. Chrysler and NextEnergy ran a one-month test of a reverse-power-flow system with four Fiat 500e vehicles last year, and the companies found that they could cut power usage enough to save $1,200. Chrysler extrapolated those numbers to estimate that such a system with just a dozen plug-in vehicles could save a company as much as $27,000 a year. Get more details over at Wards Auto. Featured Gallery 2013 Fiat 500e: Review View 40 Photos News Source: Wards Auto Green Chrysler Fiat Technology Emerging Technologies Electric wireless charging inductive charging inductive