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FCA is setting a five-year strategy: Here's how the last one played out

We're slightly more than four years removed from Sergio Marchionne last five-year plan for FCA, a tell-all where the Italian-American automaker divulged its plans for the 2014 through 2018 model years. It was a grand affair, where Sergio told FCA investors that all was right in Auburn Hills, Alfa Romeo and Maserati were making comebacks, and the fifth-gen Dodge Viper received a mid-cycle refresh. You can read every last one of those past predictions right here. We're on our way to Europe to see Sergio's sequel, coming out Friday straight from FCA's Italian headquarters. (Bloomberg reports a plan to expand Jeep and Ram globally, combine Alfa Romeo and Maserati into a single division for an eventual spinoff, and downsizing Fiat and Chrysler. Also, EVs.) But before we arrive in Italy and find out exactly what Marchionne has planned for 2019 through 2023 as his last act as CEO, let's take a minute to tally up the results of his last term based on the same scoresheet we used in 2014. Now, we're only five months into 2018, so much of this — including vehicles like the Ram HD and Jeep Grand Wagoneer — could still debut this year. For those, we'll mark things TBD. We're not going to draw any conclusions or make any objectionable remarks. We're simply going to let the stats speak for themselves.

EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

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.