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Chrysler Recalling Nearly 907,000 Cars, SUVs

Nearly 907,000 Chrysler, Dodge and Jeep SUVs and cars are being recalled for alternators that can fail and heated power mirror wiring that can short and cause minor fires. The recalls, posted Thursday by U.S. safety regulators, push the total number of recalls so far this year 544, totaling a record of more than 52 million vehicles. The largest of Thursday's recalls covers nearly 470,000 Jeep Grand Cherokees, Chrysler 300s, and Dodge Chargers, Challengers and Durangos from the 2011 through 2014 model years. The alternators can fail, causing the 3.6-liter V6 engines to stall unexpectedly. The problem also can cause the electrical system to fail, as well as knock out power-assisted steering, antilock brakes and electronic stability control. It can even cause fire or smoke, according to documents Chrysler filed with the U.S. National Highway Traffic Safety Administration. NHTSA opened an investigation into the problem in July, and Chrysler began its own probe in August. The company analyzed warranty complaints and alternators that had failed. The alternator generates electricity to recharge the battery and run other devices. Chrysler investigators traced the problem to heat fatigue in an alternator diode. Chrysler said it received 322 complaints about the problem, while 55 people complained to NHTSA. The company said it knows of one crash related to the problem, but no injuries or fires. The company will replace the alternators with upgraded versions for free. Owners will be notified in November. The company says customers who see warning lights or suspect a problem should contact their dealers. The recall affects cars and SUVs sold mainly in the U.S. and Canada, but some were sold in Mexico and overseas markets. The second recall covers almost 437,000 Jeep Wranglers from 2011 through 2013. Water can find its way into the heated power mirror wiring harness and cause corrosion. That can cause a short and could cause a minor fire and smoke, as well as cause loss of function of the mirror. The problem was discovered in February after three Wranglers in Canada were damaged. Chrysler says it has 26 complaints about the problem, but it knows of no fires, crashes or injuries. Dealers will move the wiring and install a protective shield to keep water out at no cost to owners, starting in December. Most of the Wranglers are in the U.S., Canada and Mexico, but more than 78,000 were sold overseas.

Fiat Chrysler shares get a boost after revised Stellantis merger deal with PSA

MILAN — Shares in Fiat Chrysler (FCA) rose sharply in Milan on Tuesday after the car maker and French partner PSA revised the terms of their merger deal, with FCA's shareholders getting a smaller cash payout but a stake in another business. FCA and PSA, which last year agreed to merge to give birth to Stellantis, the world's fourth largest car manufacturer, said late on Monday they had amended the accord to conserve cash and better face the COVID-19 challenge to the auto sector. Milan-listed shares in Fiat Chrysler rose almost 8% by 1000 GMT, while PSA gained 1.5%. Under the revised terms, FCA will cut from 5.5 billion euros ($6.5 billion) to 2.9 billion euros the cash portion of a special dividend its shareholders are set to receive on conclusion of the merger. However, PSA will for its part delay the planned spinoff of its 46% stake in car parts maker Faurecia until after the deal is finalized. That means all Stellantis shareholders — and not just the current PSA investors - will get shares in a company which has a market value of 5.8 billion euros. Based on Stellantis' 50-50 ownership structure, FCA and PSA respective shareholders will each receive a 23% stake in Faurecia. Analysts welcomed the 2.6 billion euros in additional liquidity for Stellantis' balance sheet as well as the increase in projected synergies to more than 5 billion euros from 3.7 billion. There was also further reassurance as the two companies confirmed they expected the deal to close by the end of the first quarter of 2021. "All told, the two players emerge as winners," broker ODDO BHF said in a note. "Of the two, FCA might be a bit more of a winner in the short term given the structure of the deal and the numerous payouts to shareholders to come in the quarters ahead (potentially close to 5 billion euros versus the current capitalization of around 16 billion euros)." The special dividend for FCA shareholders had proved contentious after Italy offered state guarantees for a 6.3 billion euro loan to the company's Italian business. "These announcements should, at last, end the debate over the financial terms of the merger, which had become a big topic and was still penalizing the two groups' share performances," ODDO BHF said. PSA and FCA said they would consider paying out 500 million euros to shareholders in each firm before closing or else a 1 billion euro payout to Stellantis shareholders afterwards, depending on market conditions and company performance and outlook.

Next Chrysler minivan to get optional AWD, nine-speed auto

"The minivan package has always been a sacred thing ... it's basically a life tool" - Ralph Gilles
The stalwart duo of Chrysler minivans will be reduced by half in the vehicle's next generation, with the Dodge Grand Caravan likely going away in favor of a new people-mover-type vehicle. And while the reworked Chrysler Town & Country shouldn't radically shake up the usual minivan formula, a new report from Automotive News suggests that some new technologies and thoughtful updates are in the cards for our Canadian-built van.