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Detroit automakers gain market share simultaneously for first time in 20 years

While monthly sales figures might be an easy way of tracking the progression of the auto industry and individual automakers, looking at market share might be more indicative of how each company is actually standing up against its competitors. For the Detroit Three automakers, they have collectively lost almost 30 percent of the market over the last 20 years, but now, for the first time since 1993, Ford, General Motors and Chrysler have each posted market share gains at the same time.
According to Automotive News, Ford's share increased the most by 0.7 percent, GM was up 0.5 percent and Chrysler rose marginally by 0.2 percent, giving the Detroit automakers a total market share of 45.6 percent. As for the Japan's Big Three, the article reports that Toyota is up by 0.7 percent, Nissan is down the same amount and Honda has seen "little change."

Former Fiat Chrysler VP pleads guilty in UAW corruption probe

Former Fiat Chrysler Automobiles executive Alphons Iacobelli pleaded guilty on Monday in connection to allegations that he made at least $1.5 million in improper payments to senior union officials, the U.S. attorney's office in Detroit said. Iacobelli, 58, a former Fiat Chrysler vice president of employee relations, was charged in July in U.S. District Court in Detroit with taking part in a conspiracy to pay prohibited money and gifts to United Auto Workers union officials. Sentencing was set for May 29. Iacobelli faces a statutory maximum of eight years in prison, and prosecutors said he will be required to repay $835,000. A lawyer for Iacobelli did not immediately comment on Monday. Iacobelli pleaded guilty to conspiracy to violate the Labor Management Relations Act and to filing a false tax return based on his failure to report hundreds of thousands of dollars in income that he illegally diverted, the government said. Iacobelli reportedly made some lavish purchases with money taken from the UAW-Chrysler National Training Center — a 2013 Ferrari 458 Spider and two solid-gold Mont Blanc pens costing $37,500 apiece. He reportedly sold the sports car at a discount when news broke of the investigation. The government said Iacobelli conspired to make illegal payments in an effort to obtain concessions and advantages for Fiat Chrysler "in the negotiation, implementation and administration of the collective bargaining agreements between FCA and the UAW." Monica Morgan, the wife of former UAW Vice President General Holiefield, who died in March 2015, is also expected to plead guilty, Reuters reported last week, citing a person briefed on the matter. She faces a plea hearing on Feb. 6. Morgan was charged with conspiring with Iacobelli to violate federal labor law. Morgan's lawyer, Steve Fishman, declined comment. Jerome Durden, a former Fiat Chrysler official whom the government charged with conspiring to divert over $4.5 million in UAW training center funds, pleaded guilty in August. The Justice Department has a wide-ranging investigation under way. In November, General Motors and Ford confirmed they were cooperating with the investigation into alleged misspending at UAW union training centers funded by U.S. automakers. It was not clear if Iacobelli is cooperating in the ongoing investigation. General Motors is conducting an internal investigation into the matter. The UAW said in a statement Monday that it is "appalled at these charges.

Junkyard Gem: 1976 Chrysler New Yorker Brougham Hardtop Coupe

Even after OPEC served notice that cheap oil would no longer be a given and notorious eco-fanatic Richard Nixon decreed a national 55 mph speed limit, plenty of Americans continued to buy enormous coupes equipped with big-displacement V8 engines and cubic yards of cushy upholstery as the early Malaise Era ground on during the middle 1970s. In 1976, Ford offered the Lincoln Continental Mark IV, the Mercury Marquis Brougham, and the Thunderbird. The General had too many such cars to list here, including the Buick Electra and Olds 98 Regency Coupe. Chrysler was right there in the battle for Broughamic supremacy that year, with the New Yorker Brougham at the very top of the company's prestige ziggurat. Here's a raggedy-but-still-opulent New Yorker Brougham Coupe, found in a Denver car graveyard during the winter. Just look at that spacious Whorehouse Red™ interior and its pillow-topped Corinthian Leather split-bench power seats! I admire this luxury so much that my band in the late 1980s recorded a hymn to the Chrysler New Yorker. This car appears to have the $598 (about $2,750 in 2020 dollars) St. Regis option group, which included a "boar-grain" padded vinyl roof and opera windows. A few years later, Dodge offered a full-sized model called the St. Regis. The New Yorker Brougham was the most expensive model offered by Chrysler in 1976 (the Imperial went on hiatus for the 1976 through 1980 model years, only to return as a much more modest car). The buyer of this car got rung up for at least $7,269 (about $33,520 after inflation).  Curb weight wasn't quite as high as this car's imposing bulk might suggest: 4,752 pounds. That's a bit less than a new Dodge Durango today. A junkyard shopper scored the engine, which would have been a 440-cubic-inch (7.2-liter) V8 rated at a startlingly low 205 horsepower and all the torque in the world (actually, 320 lb-ft). Numbers like that prove that we now live in the Golden Age of Car Engines; even the base V6 in the current Charger makes 292 horsepower out of half the displacement of the 440. Even in a car this swanky, any kind of an audio system cost extra (contrast that to 2020, when even the humblest econoboxes have standard-equipment Bluetooth-ready rigs with many speakers). A plain old single-speaker AM radio cost $99 ($457), while the top-of-the-line AM/FM/8-track set '76 New Yorker buyers back $375 ($1,730). This is the AM/FM stereo radio, which cost $197 ($908). Not legal for sale in California.