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GM details CEO Mary Barra's pay, contacts with investor David Einhorn

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Fiat Chrysler to pay $40 million fine for inflating sales numbers

DETROIT — Fiat Chrysler is paying $40 million to settle with U.S. securities regulators who say the automaker misled investors by overstating its monthly sales numbers over a five-year period. The Italian-American company inflated sales by paying dealers to report fake numbers from 2012 to 2016, the U.S. Securities and Exchange Commission alleged in a complaint. Fiat Chrysler agreed to pay the civil penalty and to stop violating anti-fraud, reporting and internal accounting control regulations, the SEC said Friday in a statement. The automaker did not admit or deny the agency's allegations, the statement said. "This case underscores the need for companies to truthfully disclose their key performance indicators," Antonia Chion, associate director in the SEC's Enforcement Division, said in the statement. She noted that the new vehicle sales figures give investors insight into the demand for an automaker's products, a key to assessing the company's performance. Fiat Chrysler said it has reviewed and refined its sales reporting procedures. It said the payment will not have a large impact on its financial statements. The agency said the automaker boasted about a streak of year-over-year sales increases into 2016, when the streak actually was broken in September of 2013. When the company disclosed the sales scheme in 2016, it said that it had a "reserve" stock of cars that had been shipped to big fleet buyers such as rental car companies but not recorded as sales. The SEC said employees called this database of actual but unreported sales the "cookie jar." The company dipped into those sales to stop the streak from ending, or when it would have missed other sales targets. Fiat Chrysler said it now records sales as soon as vehicles are shipped to customers. It has also take steps to ensure that a sale is immediately subtracted from its books when it finds out the deal was scuttled because the buyer backed out or couldn't get financing. The SEC probe is another in a long string of legal troubles for Fiat Chrysler. It also faces federal investigations into illegal payments to union officials through a training center, and a criminal probe into allegations that its diesel-powered trucks were programmed to cheat on emissions tests. The company has denied cheating, but federal prosecutors charged an engineer earlier this week and said he conspired with others. In June, Fiat Chrysler's U.S.

2023 Chrysler Pacifica Review: Hybrid is still the one to get, but it's pricey

Pros: Unique plug-in hybrid; versatile Stow ‘n Go seats; great entertainment features; good looks Cons: No cheaper base trim; top trims and Hybrid are really expensive; less-comfy second-row Stow ‘n Go seats The 2023 Chrysler Pacifica represents the seventh year of this latest generation of ChryslerÂ’s minivan, which is usually a year past when a car would be completely redesigned. Despite this advanced age, the Pacifica was so well done from the get-go that it remains fully competitive, and in Hybrid form, one of our top choices in the admittedly small minivan segment. Key updates two years in particular ensured that its in-car tech remained just as state-of-the-art and well-executed as itÂ’s always been. Indeed, if thatÂ’s a priority, the Pacifica should be at the top of your list. Ditto fuel economy, because with its plug-in hybrid powertrain and 32 miles of electric range, itÂ’s possible for the Pacifica Hybrid to best even the sensationally efficient, hybrid-only Toyota Sienna. This efficiency is a key reason why that pair represents our top minivan choices, as they can save you $1,000 or more versus V6-only vans (including the regular Pacifica) in gas per year. That said, we put the Sienna on top in a comparison test because of price, and the scales have only tipped further since then after Chrysler jacked the price up by about $8,000 in the last two model years. The base Pacifica Hybrid is now more than $50,000 with the Pinnacle living up to its name with a price tag over $60,000. The $7,500 federal tax credit should help, but itÂ’s unclear at this point if it'll still apply in calendar year 2023. Basically, we really like the Pacifica Hybrid, but the economics might be tricky. So could finding one at a dealer given supply, demand and potential mark-ups.   Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2023? The Pacifica gets a new Road Tripper package for 2023. Available on the Touring L trim levels of both gas and hybrid versions, it adds special graphics and wheels in Luster Gray with orange highlights. ThereÂ’s also “Granite Crystal” exterior trim, all-weather floor mats and a roof rack (though itÂ’s unclear whether its different than the PacificaÂ’s usual Stow ‘n Place rack). The gas-only version also includes the Trailer Tow group.