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Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng

FCA recalls 15k Grand Cherokees, Durangos over brake issues

The Basics: Fiat Chrysler Automobiles is recalling 14,768 examples of the Jeep Grand Cherokee and Dodge Durango, both from the 2015 and 2016 model years, and built between December 9, 2015, and January 14, 2016. The Problem: The left front brake caliper on some vehicles may have been made from the wrong type of iron, and could be prone to crack. A cracked brake caliper may not function properly. Injuries/Deaths: None reported. The problem was discovered by the automaker during testing. The fix: Dealers will need to check the casting date of the component in question, and if necessary, replace the brake caliper. The schedule for carrying out the recall service has yet to be outlined. If you own one: Expect to hear from the manufacturer to arrange an appointment with your local dealer. Related Video: RECALL Subject : Front Left Brake Caliper May Break Report Receipt Date: MAR 23, 2016 NHTSA Campaign Number: 16V168000 Component(s): SERVICE BRAKES, HYDRAULIC Potential Number of Units Affected: 14,768 Manufacturer: Chrysler (FCA US LLC) SUMMARY: Chrysler (FCA US LLC) is recalling certain model year 2015-2016 Jeep Grand Cherokee and Dodge Durango vehicles manufactured December 9, 2015, to January 14, 2016. In the affected vehicles, the left front brake caliper may crack due to being made from an incorrect material. CONSEQUENCE: A cracked brake caliper may lengthen the distance needed to stop the vehicle and increase the risk of a crash. REMEDY: Chrysler will notify owners, and dealers will inspect the front left brake caliper and depending on its casting date, replace it, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is S16. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

11 vehicles from Barrett-Jackson Las Vegas worth watching

This weekend will see the world's collector car crowds descend on Las Vegas, NV for one of the biggest shows on Barrett-Jackson's popular auction circuit. There are hundreds of vehicles up for bidding, ranging from a brand-new Lamborghini Aventador to a spattering of Art Deco classics and a huge swath of classic muscle cars.
While it's virtually impossible to assemble an inarguable list of the best cars coming during the three-day, 700-plus vehicle auction, we've sifted through the listings for this year's show - it was a tough assignment, we promise - and assembled a list of what we think will be some of the most interesting lots. We'll admit, it's a bit heavy on American iron, but if you browse BJ's listings, you'll come to a similar conclusion. Still, scroll down for our list of what we think will be the most interesting vehicles at the upcoming auction.