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Jeep recalling 75,000 Cherokees over air-conditioning lines

Fiat Chrysler Automobiles has issued a recall for an estimated 75,364 examples of the Jeep Cherokee in the United States. The problem stems from an air-conditioning line, which may have been installed to close to the exhaust manifold. "Under certain operating conditions," says FCA in the statement below, "this may pose a fire risk." Thus far, however, the company says it is "unaware of any related injuries or accidents." The owners of those 75k Jeeps (as well as another 18,000+ in other markets) can expect to hear from their local dealers to have the problem rectified. However the manufacturer also advises owners to watch out for indicators like air-conditioning loss or a dashboard warning light and contact their dealers if necessary. Related Video: Statement: Air-conditioning System October 27, 2015 , Auburn Hills, Mich. - FCA US LLC is voluntarily recalling an estimated 75,364 U.S.-market SUVs to inspect and replace, as required, their air-conditioning lines, as required. FCA US launched an investigation after the National Highway Traffic Safety Administration received two customer complaints involving smoke and fire. The Company discovered air-conditioning lines on some vehicles may have been installed in close proximity to their engines' exhaust manifolds; under certain operating conditions, this may pose a fire risk. FCA US is unaware of any related injuries or accidents. The recall is limited to certain 2015 Jeep Cherokees. Additional vehicles are affected in other markets. They include an estimated 7,571 in Canada; 4,018 in Mexico; and 6,942 outside the outside the NAFTA region. Affected customers will be advised when they may schedule service, which FCA US will provide free of charge. . Customers who observe air-conditioning loss or any other concern, such as a dashboard warning light, should contact their dealers. Customers with additional questions may call the FCA US Customer Information Center at 1-800-853-1403.

Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.

Stellantis will enter joint venture with Samsung SDI for EV batteries

SEOUL — South Korean battery maker Samsung SDI Co Ltd and global automaker Stellantis NV have agreed to jointly produce electric vehicle (EV) batteries for the North American market, a person familiar with the matter said on Tuesday. Samsung SDI, an affiliate of South Korean tech giant Samsung Electronics, already has EV battery plants in South Korea, China and Hungary, which supply customers such as BMW and Ford. "The two companies (Samsung SDI and Stellantis) have struck a MOU (memorandum of understanding) to produce EV batteries for North America," the person with knowledge of the matter told Reuters. The source spoke of condition of anonymity because of the sensitivity of the matter. The person said the location of the battery joint venture is under review and will be announced later. In July, Reuters reported that Samsung SDI may build a battery plant in the United States, citing a company source. South Korea's Yonhap news agency earlier reported the two companies plan to build a factory in the United States, citing industry sources. Samsung SDI and Stellantis did not have immediate comment when reached by Reuters. Stellantis on Monday struck a preliminary deal with battery maker South Korea's LG Energy Solution (LGES) to produce battery cells and modules for North America. Shares of Samsung SDI were up 2.6% as of 0300 GMT, versus a 0.6% rise in the KOSPI benchmark index. Related video: Green Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Maserati RAM Citroen Lancia Opel Peugeot Vauxhall