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Chrysler recalls 350k vehicles over ignition switches

Chrysler has announced a recall covering 349,442 vehicles due to ignition switches that can either become stuck or move without warning. All of the affected vehicles are from the 2008 model year, and were built before May 12, 2008.
The automaker has learned that ignition keys on some vehicles "may not fully return to the 'ON' position after rotation to the 'START' position during engine-startup," the company said in a statement. Additionally, "an ignition key may not fully return to the 'ON' position after rotation to the 'START' position and may inadvertently move through the 'ON' position to 'ACCESSORY' or 'OFF.'"
Chrysler says it is unaware of any related injuries, and notes that while reduced braking, engine or steering power is possible in such instances, the airbags are not affected. The later stands in contrast to General Motors' recent rash of high-profile recalls, and it's an important distinction that Chrysler (understandably) felt necessary to call out in bold print in its press release.

To grease the skids for Stellantis, PSA offers to boost Toyota's fortunes

BRUSSELS/MILAN — Peugeot maker PSA has offered to boost Japanese rival Toyota to try to address EU antitrust concerns about its plan to create the world's fourth-biggest carmaker, to be called Stellantis, by merging with Fiat Chrysler, people familiar with the matter said on Friday. PSA has offered to increase the production capacity for Toyota in their van joint venture, one of the sources said. Another source said the French company would sell the vans at close to cost. PSA makes vans for Toyota in its Sevelnord plant in northern France. The van collaboration started in 2012. PSA submitted its offer to the European Commission earlier on Friday, three months after the EU enforcer opened a full-scale investigation into the deal with FCA on concerns that it would hurt competition in small vans in 14 EU countries and Britain. "As of now, the transaction has obtained merger clearance in 14 jurisdictions. As previously stated, closing of the transaction is expected to occur in the first quarter of 2021," PSA and FCA said in a joint statement. The Commission, which temporarily halted its investigation into the deal in July while waiting for the companies to provide requested data, did not set a deadline for its decision. "The deadline is still suspended. This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," the EU executive said. It is now expected to seek feedback from customers and rivals before deciding whether to demand more concessions, or either clear or block the deal. Government/Legal Chrysler Fiat Peugeot Stellantis

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.