2014 Chrysler Town & Country on 2040-cars

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Ford and Chrysler reducing summer plant shutdowns

Most domestic automaker assembly plants traditionally take a couple of weeks off during the summer. The shutdowns give each plant time for much needed repairs and maintenance, and in some cases, help better align production with demand. Not this year, though, as demand for many models is outstripping what Ford, Chrysler and General Motors plants can produce.
Ford has announced that it will shorten its annual summer shutdown for most North American plants from two weeks to one. The shorter shutdown will increase the carmaker's annual North American production by 40,000 units on top of the 200,000 extra units that it was already planning to produce this year versus last. Automotive News reports that Ford produced 2.8 million vehicles on this continent in 2012, and that output this year has already increased 13 percent through April.
Chrysler, meanwhile, is also operating at full tilt and plans to run some plants through the summer with no shutdown at all. Those not getting a break include Jefferson North where the Jeep Grand Cherokee and Dodge Durango are assembled, Toledo North that will assemble the new Cherokee, and Conner Avenue, home of SRT Viper production. Other assembly plants will be down for a single week, while all of Chrysler's engine and transmission plants except one in Indiana will continue operating with no shutdown this summer.

Chrysler recalls 2013 Ram pickups, 2014 Jeep Grand Cherokee

Chrysler's spate of successful products is about to be marred by a trio of recalls. The Pentastar is recalling 51,477 Ram trucks and Jeep SUVs. According to the National Highway Traffic Safety Administration, there have been no reported accidents, injuries or deaths related to the affected vehicles.
The largest action covers the Ram 1500, which is seeing 45,961 trucks being recalled. Models built between June 26, 2012 and February 5, 2013 are being recalled due to a potential software issue in the electronic stability control. Apparently, the system can be randomly deactivated upon vehicle startup.
Chrysler is also recalling 4,458 2014 Jeep Grand Cherokee models. Covering everything but the SRT models, the potentially defective SUVs were built between January 14 and March 20, 2013. This recall focuses on "premium headlights," which means cars equipped with LED running lights. During the switch from the bright daytime running lamp setting to the low-intensity parking light setting, an electrical spike can cause one of the Jeep's computers to go into a safe mode, turning off the LEDs. This violates Federal Motor Vehicle Safety Standards.

Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video: