2014 Chrysler Town & Country S on 2040-cars

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25,000 Jeep Grand Cherokee, Dodge Durango SUVs recalled over brake feel

Chrysler has announced that it is recalling over 25,000 Jeep Grand Cherokee and Dodge Durango SUVs from several markets over concerns about brake feel under hard braking. The affected models are from the 2012 and 2013 model years, although the actual dates of production aren't available. 18,700 are in the US, while 825 are in Canada, 530 are in Mexico and a further 5,200 outside of North America.
According to a statement, Chrysler was informed of the issue by a component supplier for the Ready Alert Braking system, which primes the brakes in anticipation of an emergency stop. A component in the system was restricting the flow of brake fluid too much.
As Chrysler is quick to point out, the way the brakes functioned was in compliance with regulations and there are no reported cases of drivers losing braking power. Instead, the issue rests with what Chrysler calls a pedal feel that "was not consistent with customer expectations." So it would seem Chrysler is being proactive and fixing a problem not because there's a legal issue at work, but simply because it doesn't feel the way the manufacturer wants it to. Well done.

Fiat stock rockets up after word of Chrysler deal

Now that Fiat has finalized a deal to purchase the outstanding shares of Chrysler owned by the United Auto Workers' VEBA retiree heathcare fund without having to file for an IPO, you can count the Italian automaker's stockholders among the happy. The Detroit News reports that Fiat stock closed Thursday with a 12-percent gain for the day on the Borsa Italiana, having been up by as much as 15.8 percent during the day's trading, at prices not seen since mid-2011. One trader reasoned the run was because Fiat "paid less than the market had expected and there will be no capital increase to fund this."
But there are some who worry, including bank analysts and unions. The final price of the stake will be $4.35 billion - $1.9 billion in cash from Chrysler, $1.75 billion from Fiat and extraordinary dividends in the amount of $700 million paid over three years. Adding that sum to its ledger will raise Fiat's debt level to roughly 10 billion euros ($13.8 billion), which Citibank says will make it the most indebted OEM in Europe.
Italian unions are also concerned about what the deal means for the future. Fiat CEO Sergio Marchionne has had an at-times contentious relationship with both unions and the Italian government over the future of Italian manufacturing, a fact that makes headlines because Fiat is Italy's largest private employer. At least two left-leaning unions have publicly called on Fiat to give guarantees and to explain what the deal means for its Italian operations, while a centrist union argues this is "good news for Fiat workers, for the auto industry and for our country."

Marchionne to take his sweater and go home after 2018

The end is in sight for Fiat Chrysler boss Sergio Marchionne, who confirmed in an interview with Bloomberg that once FCA's sweeping five-year plan is completed, he'd be stepping down from his post to "undoubtedly" do something else that didn't involve turning around global corporations. That would mean he should finish up after 2018 if all goes according to plan.
"It's as important to walk away from the table as it is to sit down," Marchionne told Bloomberg.
Marchionne has been at Fiat since June of 2004 and is one of the chief architects behind the Italian company's acquisition of Chrysler. Despite his successes, he does sound quite ready to move beyond the auto industry, rhetorically asking his Bloomberg interviewers if there "are other things I like to do apart from this?"