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Fiat Chrysler expands Takata airbag recall to 3.3M vehicles

Fiat Chrysler Automobiles is expanding its recall of vehicles equipped with Takata airbags, moving beyond Florida, Hawaii, Puerto Rico and the US Virgin Islands to the greater US, as well as Mexico, Canada and beyond. The affected vehicles, some 3.3 million in total, were built between 2004 and 2007, with many models, including the Dodge Ram 1500, 2500 and 3500, Durango and the Chrysler 300, having been affected by Chrysler's previous recall. Despite the somewhat alarming nature that comes with a recall of this many vehicles, it seems that Chrysler is moving more out of an abundance of caution (and federal pressure) than anything else, saying: "Neither FCA US, nor Takata Corporation, the supplier, has identified a defect in this population of inflators. These components also are distinct from Takata inflators cited in fatalities involving other auto makers. More than 1,000 laboratory tests have been performed on these components. All deployed as intended, but FCA US continues to study the suspect inflators, which are not used in the Company's current production vehicles." Owners of affected vehicles will be notified and asked to report to dealers for a free replacement driver's side airbag. Scroll down for the official press release from FCA. Statement: Global Air-Bag Inflator Replacement December 19, 2014 , Auburn Hills, Mich. - FCA US LLC will replace driver's-side air-bag inflators in an estimated 3.3 million older-model vehicles worldwide, in an expansion of an ongoing regional field action. Neither FCA US, nor Takata Corporation, the supplier, has identified a defect in this population of inflators. These components also are distinct from Takata inflators cited in fatalities involving other auto makers. More than 1,000 laboratory tests have been performed on these components. All deployed as intended, but FCA US continues to study the suspect inflators, which are not used in the Company's current production vehicles. Outside of Florida, one of the areas covered by the original action, no FCA US vehicle has been linked to an air-bag deployment of the type that has raised public concern. Nevertheless, the Company is replacing the Takata components tied to that concern. FCA US is aware of one related injury involving one of its vehicles, an older-model sedan. It occurred in a southern Florida region marked by persistent, high, absolute humidity – a condition believed to be a contributing factor in the air-bag deployments under investigation.

Pickup prices rising at 2x industry average

We've said it before, but bears repeating: Pickup trucks are the financial engines of America's automakers. Good thing, then, that the segment is in rude health - in fact, Automotive News is suggesting that pickup truck sales are arguably healthier than they were pre-recession, even though the segment's volume is still significantly down from where it was before the bottom fell out of the US economy. That's because per-unit profits on full-size trucks are skyrocketing, outpacing the industry's average price increases by more than double since 2005. According to data from Edmunds, the average transaction price of a full-size pickup is now $39,915 - a heady increase over the $31,059 average price in 2005 - a gain of over 8 percent after inflation is factored in.
Just how important are trucks to automakers' bottom lines? Automotive News quotes a Morgan Stanley analyst as saying the Ford F-Series is responsible for 90 percent of the company's 2012 profits, and General Motors isn't far behind, with the Chevrolet Silverado and GMC Sierra twins chipping in about two-thirds of the automaker's earnings.
Automotive News points out that Detroit's automakers now have the money to invest in modernizing their full-size truck offerings, in part because they don't have the same overhead and legacy costs that pushed General Motors and Chrysler into bankruptcy. Certainly, the pickup segment has seen a lot of innovations as of late, including turbocharged V6s, coil-spring rear suspensions and active aero. Those improvements in important areas like fuel economy and ride comfort have given existing pickup buyers new reasons to upgrade. In addition, automakers are piling on the tech and luxury goodies, creating more and more high-content, high-profit models like the Ford F-150 King Ranch, Ram 1500 Laramie Longhorn and Chevrolet Silverado High Country (shown).

Tesla Model 3: Finding perspective

The reveal of the Tesla Model 3 this week was one of the biggest automotive events of the year. The car attracted 180,000 pre-orders in just 24 hours, gave the company's stock a jolt, and set Tesla on a more ambitious growth path for the rest of the decade. It's a staggering feat considering the Model 3 is one car, from one company that's just 13 years old. It begs the question: Is all of this attention warranted? Barclays analyst Brian Johnson urged investors to "take a deep breath," and be mindful that the Model 3 won't likely arrive in "significant volume" until possibly 2019. Though Tesla promises the car will launch in 2017, Johnson points to the slow rollouts of the Model S sedan and Model X crossover as cautionary notes. The potential extended wait didn't temper the enthusiasm of Tesla's faithful, and many put down deposits before they had even seen the car. Johnson compared the hype to a "Black Friday atmosphere," saying the social media buzz went from "insane mode to ludicrous mode," in a riff on Tesla's driving features. Still, the Barclays analyst was admittedly "curmudgeonly" when it came to Tesla's stock price. In comparison, Morgan Stanley called Tesla's shares undervalued, and expects the Model 3 to be the start of cataclysmic changes in the industry. "We have said for some time that, despite its many worthy accomplishments, Tesla had not yet truly disrupted the auto industry," according to a report led by Adam Jonas. "We are now getting a feeling that this may be starting to change." The Model 3 offers a range of 215 miles on a single charge, can sprint to 60 miles per hour in less than six seconds, and has room for five. It will also be capable of charging on Tesla's supercharging network and features the company's autonomous technology. With a starting price of $35,000 before incentives, it's arguably the most futuristic car that's attainable for a wide swatch of American buyers, though the Chevy Bolt EV is comparable (200-plus-mile range, $37,500 MSRP before incentives) in many ways. The Model 3's attainability is what partially drove the hype. It was like Elon was whispering: Y ou can own the future. The question is now: Can Tesla deliver? If it does, this early fanfare will be richly deserved. News & Analysis News: Top Gear appears to be in turmoil as Chris Evans works four hours a day. Analysis: Is this a soap opera or a car show?