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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

New Viper 'is a possibility,' Sergio Marchionne says

It was thought the door to the future for the Dodge Viper had closed last year, but Fiat Chrysler CEO Sergio Marchionne reopened it during his press conference at the 2016 Detroit Auto Show. Marchionne said the current Viper is the only FCA product to use the ZD platform, which "doesn't make sense to me." Yet, "given the architectural development within the brand, there is a possibility that a new version of the Viper may surface." Automobile reports that the company uses a versatile, rear- and all-wheel drive Giorgio platform for Alfa Romeo and Dodge. It will support the Alfa Romeo Giulia (Alfa Romeo's larger BMW 5 Series competitor), the next-generation Dodge Challenger, Charger, and rumored Barracuda, and it could support a new generation of Viper. We're probably talking about a different kind of Viper, though, with Automobile saying, "the current car's truck-based V-10 no doubt would be scrapped along with its platform." A Viper without a V10 doesn't seem like a Viper to us, but we'll wait to see what happens. In the midst of contract negotiations for a new labor agreement between FCA and the United Auto Workers last year, it emerged that the Conner Avenue Assembly plant that builds the Viper hadn't been given any new product after the end of Viper build-out in 2017. That led most to reason that the current Viper would be the end of the 25-year run of America's hairiest sports car. How long we'll be waiting is unknown. Marchionne had no timetable and admitted that a future Viper might not appear on the heels of the current one. With a renewed commitment to being debt-free by 2018, FCA is likely more focused on getting Alfa Romeo running properly and cranking out the volume variants for the Giorgio platform first. Related Video: Featured Gallery 2014 SRT Viper GTS: Review View 36 Photos News Source: Automobile via World Car FansImage Credit: Copyright 2015 Drew Phillips / AOL Detroit Auto Show Dodge Coupe Performance Sergio Marchionne FCA conner avenue assembly plant

Certain Chrysler owners eligible for buyback program

Certain car owners whose Chrysler vehicles contain dangerous defects will soon have a way to get rid of their lemons without losing money. As part of an agreement with federal regulators, Fiat Chrysler Automobiles has agreed to buy back more than 500,000 vehicles susceptible to veering out of control without warning at above market-value prices. The deal mainly covers certain models of RAM trucks, the Dodge Dakota pickup and Dodge Durango SUV. Further, owners of more than 1.5 million Jeep Liberty and Grand Cherokees at heightened risk for lethal fires are eligible to trade in their vehicles at above market value or, alternately, get a gift certificate if they prefer to have repairs made. Chrysler has "a heavy responsibility to make sure the products they make are safe for the traveling public," said Mark Rosekind, administrator of the National Highway Traffic Safety Administration. "... Here, we are sending an unambiguous signal to industry that if you skirt the laws or violate the law, or don't live up to the responsibility that consumers expect, we are going to penalize you." The buy-back and trade-in options for motorists come as part of an unprecedented penalty NHTSA slapped against Chrysler for violating federal motor-vehicle safety laws. Chrysler will pay a $105 million fine, the highest ever levied by the regulatory agency. In addition to the buy-backs, Chrysler also agreed to an independent monitor for three years. Investigators had outlined problems in the company's conduct in 23 recalls that affected more than 11 million defect vehicles. As part of a consent-order agreement, Chrysler acknowledged it did not notify vehicle owners of recalls in an effective manner and did not notify NHTSA of safety problems. Though those recalls affected millions of drivers, the buy-back and trade-in options are only for a small portion of the vehicles involved. Because Chrysler struggled to fix the problem and no repair was apparent, Rosekind said the buy-backs are reserved "for customers who didn't have a remedy." Buy-backs are for trucks and SUVs affected by three recalls that occurred in 2013 (recalls 13V-038, 13V-527 and 13V-529), that addressed a rear-axle pinion nut that could come loose and cause a loss of vehicle control. Those recalls covered 579,228 vehicles, including 2009-2012 Ram 1500, 2500, 3500, 4500 and 5500 trucks, 2009-2012 Dodge Dakotas, 2009 Chrysler Aspen and the 2009 Dodge Durango.