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Fiat Chrysler faces $79 million U.S. penalty for fuel economy shortfall

WASHINGTON — Fiat Chrysler Automobiles NV on Wednesday said it faces a $79 million U.S. civil penalty for failing to meet 2017 fuel economy requirements, as regulators reported more automakers were falling short of U.S. greenhouse gas emissions standards. The Italian-American automaker said the payment is not expected to have a material impact on its business. Of 18 major carmakers in the United States, 13 including Fiat Chrysler failed to comply with fuel economy and greenhouse gas emissions standards for the 2017 model year without using credits, according to the National Highway Traffic Safety Administration (NHTSA). The agency said its review of model year 2017 vehicles showed "automakers falling further behind current standards." The 2017 model fleet fell 1 1/2 miles per gallon short of the 33.8 mpg standard based on yearly performance without including credits, NHTSA reported. The shortfall was a half-mile per gallon for the 2016 model year. NHTSA said more automakers were failing to comply with standards for the 2018 and 2019 model years, "and the potential penalties on automakers, which are passed along to consumers, are expected to continue to increase." The Trump administration has used the widening gap between the emissions of automakers' U.S. fleets, which are skewing toward larger vehicles, and national vehicle CO2 emissions standards to bolster its case for freezing vehicle emissions and mileage standards at current levels through 2026. Environmental groups and regulators in California and other states are fighting against any rollback in standards, saying tough rules are needed to address climate change and reduce consumer outlays for fuel. NHTSA and the Environmental Protection Agency are working to finalize as early as next month a rewrite of the Obama administrationÂ’s fuel efficiency requirements, which call for sharp reductions in fleet-wide emissions by 2026. Fiat Chrysler is paying fines for the shortfall in its domestic passenger car fleet, which includes several front-wheel-drive Jeep and rear-drive Dodge SUVs and some sedans and muscle cars. The automaker killed its slow-selling domestic small and midsize sedans. After paying $77.3 million last year for a 2016 model year fuel-economy shortfall, a Fiat Chrysler spokesman confirmed Wednesday the company had received a letter on the 2017 penalty and has 60 days to pay the fine.

California to stop buying GM, Toyota and Fiat Chrysler vehicles over emissions fight

WASHINGTON — California said on Monday it will halt all purchases of new vehicles for state government fleets from GM, Toyota and Fiat Chrysler and other automakers backing President Donald Trump in a battle to strip the state of authority to regulate tailpipe emissions. Between 2016 and 2018, California purchased $58.6 million in vehicles from General Motors, $55.8 million from Fiat Chrysler Automobiles, $10.6 million from Toyota Motor and $9 million from Nissan. Last month, GM, Toyota, Fiat Chrysler and members of the Global Automakers trade association backed the Trump administration's effort to bar California from setting tailpipe standards, which are more rigid than Washington's proposed national standards. The automakers declined or did not immediately comment on California's announced ban on purchases of their vehicles. Starting in January, the state will only buy from automakers that recognize California's legal authority to set emissions standards. Those automakers include Ford, Honda, BMW AG and Volkswagen AG, which struck a deal with California in July to follow revised state vehicle emissions standards. "Car makers that have chosen to be on the wrong side of history will be on the losing end of CaliforniaÂ’s buying power," California Governor Gavin Newsom said in a statement. California purchased $69.2 million in vehicles from Ford over the three-year-period, $565,000 from Honda and none from the German automakers. The state also disclosed it will immediately no longer allow state agencies to buy sedans powered by an internal combustion engine, with exemptions for certain public safety vehicles. California's vehicle rules have been adopted by 13 other states. On Friday, California and 22 other U.S. states challenged the Trump administration's decision to revoke California's legal authority to set vehicle tailpipe emissions rules and require a rising number of zero emission vehicles (ZEV). The move follows a separate lawsuit filed in September by the states against the National Highway Traffic Safety Administration seeking to undo a parallel determination. In August 2018, the Trump administration proposed freezing fuel efficiency requirements at 2020 levels through 2026, reversing planned 5% annual increases. The Trump administrationÂ’s final requirements are expected in the coming months and are set to modestly boost fuel efficiency versus the initial proposal, with several automakers anticipating annual increases of about 1.5%.

Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

  MILAN — Stellantis is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe underperforming brands in its sprawling portfolio, its chief executive Carlos Tavares said on Thursday. The warning for lossmaking brands is a turnaround for Tavares, who has maintained since Stellantis was created in 2021 from the merger of Italian-American automaker Fiat Chrysler and France's PSA that all of its 14 brands including Maserati, Fiat, Peugeot and Jeep have a future. "If they don't make money, we'll shut them down," Carlos Tavares told reporters after the world's No. 4 automaker delivered worse-than-expected first-half results, sending its shares down as much as 10%. "We cannot afford to have brands that do not make money." The automaker now also considers China's Leapmotor as its 15th brand, after it agreed to a broad cooperation with the group. Stellantis does not release figures for individual brands, except for Maserati which reported an 82 million euro adjusted operating loss in the first half. Some analysts say Maserati could possibly be a target for a sale by Stellantis, while other brands such as Lancia or DS might be at risk of being scrapped given their marginal contribution to the group's overall sales. Stellantis' Milan-listed shares were down as much as 12.5% on Thursday, hitting their lowest since August 2023. That brings the loss for the year so far to 22%, making them the worst performer among the major European automakers. Few automotive brands have been killed off since General Motors ditched the unprofitable Saturn and Pontiac during a U.S. government-led bankruptcy in the global financial crisis in 2008. Tavares is under pressure to revive flagging margins and sales and cut inventory in the United States as Stellantis bets on the launch of 20 new models this year which it hopes will boost profitability. Recent poor results from global carmakers have heightened worries about a weakening outlook for sales across major markets such as the U.S., whilst they also juggle an expensive transition to electric vehicles and growing competition from cheaper Chinese rivals. Japan's Nissan Motor saw first-quarter profit almost completely wiped out on Thursday and slashed its annual outlook, as deep discounting in the United States shredded its margins. Tavares said he would be working through the summer with his U.S. team on how to improve performance and cut inventory.