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Weekly Recap: Ferrari plans to gradually increase production by 2019

Ferrari has long been known for the exclusivity of its performance machines. It's on a different level than Porsche, BMW, and Mercedes. But as it transitions to a new era of independence from Fiat Chrysler, Ferrari is going to get a little less exclusive. It's by design, and it means a subtle, slow ramp-up of production – a move Ferrari believes will ensure its future by meeting growing demand in new markets. The strategy was detailed in SEC documents filed this month as part of the company's pending stock offering. The files reveal Ferrari will gradually increase shipments to about 9,000 units per year by 2019. This is a reversal of Ferrari's 2013 plans to cap production at 7,000 cars annually, which it hit on the nose that year. Ferrari shipments inched up to 7,255 in 2014, though that's down from 2012's record tally of 7,405. Ferrari is a vastly different operation than it was in 2013. Longtime chairman Luca di Montezemolo stepped down last fall, and FCA chief executive Sergio Marchionne has been overseeing the company since then. Its IPO has attracted high levels of attention from enthusiasts and investors. As expected, demand has reportedly outstripped the availability of the stock, which has an estimated offering price of $48 to $52 a share. Speaking of more Ferraris, the company revealed a limited-edition model this week called the F12tdf (shown above). Based on the F12 Berlinetta, the car is a salute to the Tour de France endurance auto race that Ferrari dominated in the 1950s and '60s. The V12 engine's output increases to 769 horsepower, while weight is cut by 243 pounds – allowing for a sprint to 60 mph in 2.9 seconds. Dramatic carbon-fiber elements and a radical redesign of the body panels give the F12 a more dramatic look. It will be limited to 799 units over the life of the car. If this is how Ferrari is increasing production, we're more than okay with the company's new strategy. OTHER NEWS & NOTES Tesla software unlocks Autopilot features Tesla released the latest version of its software for the Model S this week, which allows the all-electric sedan to drive in a semi-autonomous state called Autopilot. Tesla Version 7.0 enables the Model S to maintain lane position, change lanes by touching the turn signal, and manage the car's speed using an advanced, traffic-sensing cruise control. It also has a parallel parking feature, which searches for open spots and then parks your Tesla.

FCA cuts powertrain warranties to 60k miles

FCA US is cutting back the mileage of its powertrain warranty on some 2016 model year vehicles. Rather than the current five years/100,000 miles of coverage, the new amount is five years/60,000 miles for gasoline-fueled models from Chrysler, Jeep, Dodge and Ram. In March 2015, General Motors made a similar switch to five-years/60,000-miles of coverage for Chevrolet and GMC, and FCA US seems to be citing this as part of the reason for the shift. "Following changes already made by competitors, FCA US is adjusting powertrain warranty coverage for 2016 model year vehicles to be more consistent with industry practices," the automaker said in a portion of its statement. The bumper-to-bumper warranty for these vehicles is unchanged at three years/36,000 miles. According to Automotive News, Fiat's warranty is remaining at four years/50,000 miles. When it changed the mileage limit, GM also halved the number of free service visits for Chevy, GMC, and Buick to two from the previous four. The automaker claimed that the reason for the adjustments to its coverage was that a long warranty was seldom a reason for customers to buy a vehicle. Related Video: Response to Query: 2016MY Powertrain Warranty Adjustment Following changes already made by competitors, FCA US is adjusting powertrain warranty coverage for 2016 model year vehicles to be more consistent with industry practices. For 2016MY, Chrysler, Jeep®, Dodge and Ram Truck vehicles with gasoline engines will be covered by a 5 year/60,000 mile powertrain warranty. The basic coverage, also known as "bumper to bumper," remains at 3 years/36,000 miles. # # # News Source: FCA US, Automotive News - sub. req.Image Credit: Mark Ralston / AFP / Getty Images Chrysler Dodge Jeep RAM Car Buying Maintenance Ownership FCA warranty fca us powertrain

Chrysler recalls 350k vehicles over ignition switches

Chrysler has announced a recall covering 349,442 vehicles due to ignition switches that can either become stuck or move without warning. All of the affected vehicles are from the 2008 model year, and were built before May 12, 2008.
The automaker has learned that ignition keys on some vehicles "may not fully return to the 'ON' position after rotation to the 'START' position during engine-startup," the company said in a statement. Additionally, "an ignition key may not fully return to the 'ON' position after rotation to the 'START' position and may inadvertently move through the 'ON' position to 'ACCESSORY' or 'OFF.'"
Chrysler says it is unaware of any related injuries, and notes that while reduced braking, engine or steering power is possible in such instances, the airbags are not affected. The later stands in contrast to General Motors' recent rash of high-profile recalls, and it's an important distinction that Chrysler (understandably) felt necessary to call out in bold print in its press release.