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Fiat Chrysler dumped 40,000 unordered vehicles on dealers

In a move that echoes recent history, Fiat Chrysler has been making more cars and trucks than dealers in the U.S. are willing to accept, with Bloomberg reporting that at one point the automaker had built up a glut of around 40,000 unordered vehicles. That’s led some dealers to accuse FCA of reviving the dreaded “sales bank” accounting practice of obscuring inventory to improve the balance sheet. The company reportedly began building up its inventory of unordered cars this summer despite an industrywide slowdown in sales and an eagerness by some dealers to thin their inventories because rising interest rates are making it more expensive to hold unsold cars. The inventory build-up also coincided with Fiat ChryslerÂ’s efforts to find a merger partner, first with Renault, which fell through, then last monthÂ’s announcement that it will merge with FranceÂ’s PSA Group. FCA denies any such scheme and tells Bloomberg the rising inventory is down to a new predictive analytics system designed to better square supply with demand from dealers that is helping the company save money and narrow the numbers of unsold vehicles. The company recently agreed to pay a $40 million civil penalty to the U.S. Securities and Exchange Commission to settle a complaint that it paid dealers to report fake sales figures over a span of five years. While no one is suggesting that FCA is in dire financial straits — the company saw higher than expected earnings in the third quarter and record profits in North America — the practice has strong historical precedent by Chrysler, which built up bloated inventories in the run-up to its two federal bailouts, in 1980 and 2009. It was also common at GM and Ford during the 2000s, when all three Detroit automakers struggled with excess manufacturing capacity and plummeting sales in the lead-up to the Great Recession. Back in 2012, CFO Magazine wrote about a report that explained automakersÂ’ rationale for the practice and how it works: Say fixed costs for a given factory are $100, and that the factory can make 50 cars. Consumers, however, demand only 10. Under absorption costing, if the company makes all 50 cars, its cost-per-car is $2. If it makes only up to demand, or 10 cars, the cost-per-car is $10. Although each car adds variable costs for steel and other parts, if those costs are low, the company still has an incentive to make more cars to keep the cost-per-car down.

Ford tumbles to second worst in Consumer Reports reliability survey, list dominated by Japanese [w/video]

It's no secret that MyFord Touch has had its share of problems since being introduced, but the most recent reliability survey from Consumer Reports shows just how much this infotainment system has affected Ford. Just two years ago, the automaker was in the top 10 for the institute's reliability rankings, but since then, it has tumbled to the second-lowest rung just above dead-last Jaguar. In addition to MyFord Touch, CR also attributes a handful of new products that have had issues right out of the gate.
Compiled from 1.2 million subscriber surveys, this year's auto reliability survey heavily favors Japanese automakers, with eight of the 10 spots hailing from Japan. Toyota brands grabbed the top three spots (Scion, Toyota and Lexus - in that order) with Mazda, Subaru, Honda and Acura filling the next four spots. The only non-Asian automaker cracking the top 10 was Audi at number eight.
Audi climbed a total of 18 spots from last year, and Cadillac and GMC round out this year's top gainers breaking into the top 15. Helping Cadillac's upward movement, the CTS Coupe was named the most reliable domestic car. Lincoln, Volvo and Chrysler join Ford on this year's biggest loser list.

Chrysler 300 soldiers on for 2021 with pared-down range, higher price

Chrysler's last remaining sedan, the 300, will enter the 2021 model year with fewer trim levels and a higher price, according to a recent report. The 2021 model will be the second-generation 300's 10th year on the American market. Well-informed website CarsDirect received a dealer ordering guide, which reportedly confirms the Limited and 300C trims levels will not return for 2021. They're the two most expensive trims offered for 2020, and the publication added that removing them will likely mean upscale features like wood interior trim, Nappa leather upholstery, and quilted seats will no longer be available. It concluded the 2021 300 lineup will consist solely of the Touring and the 300S models, though it oddly made no mention of the Touring L. It doesn't sound like Chrysler will make any major visual or mechanical changes to the 300 — sorry, Hellcat fans. Available with rear- or all-wheel drive, the entry-level Touring model will be powered by the company's venerable 3.6-liter V6 tuned to make 292 horsepower and 260 pound-feet of torque. Marketed as a sportier sedan, the rear-wheel drive-only 300S will come standard with a 300-horse version of the V6, but buyers who want more power will be able to order a 5.7-liter Hemi V8 rated at 363 horsepower and 394 pound-feet of torque at extra cost. Pricing for the 2021 300 Touring will start at $31,940 including a $1,495 destination charge, a $405 increase over the 2020 model. Stepping up to the 300S will require spending $38,980, but the cost of the optional V8 will increase from $3,000 to $4,000, bringing its price to $42,890 once the aforementioned destination charge enters the equation. Keep in mind none of these figures are official, and Chrysler hasn't commented on the report. Most of the carmakers operating under the Fiat-Chrysler Automobiles (FCA) umbrella will announce the changes they're making for 2021 on September 1 — that's next Tuesday, so we won't have to wait long to find out what's in store for the 300. Chrysler has kept its lips sealed about what's next. Rumors claiming the sedan wouldn't live to see 2020 were evidently false, yet it can't remain in production for another decade. Sales fell by 37% to 29,213 units in 2019. Chrysler can either develop a third-generation model that will likely need to represent it in the sedan segment through the 2020s, or it can hike the path blazed by many of its rivals and throw in the towel.