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Fiat Chrysler will pay $70M to settle safety disclosure suit

FCA US will pay a $70 million civil penalty to the National Highway Traffic Safety Administration for failing to submit Early Warning Report data going back to 2003. The automaker will also provide any missing data since that time, and an auditor will monitor future compliance. NHTSA says the failures to report this information "stem from problems in FCA's electronic system for monitoring and reporting safety data, including improper coding and failure to account for changes in brand names." There are no allegations of any intentional deception by the automaker. NHTSA will wrap up the latest fine with the previous consent order against FCA US earlier this year for the automaker's handling of 23 recalls. The company will know owe the safety regulator a total of $140 million in cash, and there will be possibility of $35 million more in deferred penalties if FCA doesn't comply with the agency's requests. In a statement about the fine to Autoblog, FCA US said the automaker "accepts these penalties and is revising its processes to ensure regulatory compliance." The company strongly believes that it didn't miss any safety problems over the time with this problem. Early Warning Reports include information on deaths, injuries, crashes, and other potential safety concerns, and NHTSA often uses the data in investigations for possible recalls. In September, the safety agency first announced the automaker failed to submit these documents. At the time, the regulator's administrator Mark Rosekind promised to "take appropriate action after gathering additional information on the scope and causes of this failure." FCA US also released a statement then about the lapse and said the company notified NHTSA immediately after discovering the problem. FCA US is not the first company to run afoul of NHTSA's reporting requirement. The agency fined Triumph Motorcycles and Honda this year for similar lapses. It also punished Ferrari in 2014. U.S. DOT Fines Fiat Chrysler $70 million for Failure to Provide Early Warning Report Data to NHTSA WASHINGTON – The U.S. Department of Transportation's National Highway Traffic Safety Administration has imposed a $70 million civil penalty on Fiat Chrysler Automobiles (FCA) for the auto manufacturer's failure to report legally required safety data. The penalty follows FCA's admission in September that it had failed, over several years, to provide Early Warning Report data to NHTSA as required by the TREAD Act of 2000.

Fiat 500X Abarth could pack 200 horsepower

Enticing as some of its products might be, Abarth has been rather limited. Fiat revived the name to serve as its performance sub-brand in 2007, tasking it with producing hot versions of the 500 and Punto. The Punto never even made it to America, and isn't even offered overseas anymore, either. But don't think that Fiat Chrysler is just going to let the Scorpion marque skate by on just one model for much longer. Abarth is expected to offer its own performance version of the upcoming Fiat 124 Spider that's based on the Mazda MX-5 Miata. But that's not all. According to Alfredo Altavilla, FCA's COO for Europe, Africa and the Middle East, the company is closely evaluating a performance version of the 500X (pictured here with Mopar accessories). "Besides the 124 and 500, we are thinking about an all-new addition to the line-up," Altavilla told Auto Express. "The 500X is one of the options being considered." If approved for production, the 500X Abarth would target the likes of the Mini Countryman JCW and Nissan Juke Nismo. It may be too early to make the call on powertrain options, but we could be looking at a retuned version of the adaptable 1.75-liter turbo four in the Alfa Romeo 4C that's also tipped to power the Abarth 124, with around 200 horsepower. That'd put it right in line with the 197 hp in the Juke Nismo, 215 hp in the Juke Nismo RS, and 208 hp in the Countryman JCW. This isn't the first time we've heard the prospect of an Abarth 500X brought up. The last time was the better part of the year ago, when we we hoped the project would lead to an amped-up Jeep Renegade as well. The Italian-American automaker has no intention of phoning it in with the Abarth 500X. "We went a bit too far with the Punto Abarth. Now our customers won't buy a fake. If the 500X becomes the addition to the Abarth line-up, it will be everything but a family version," said Altavilla. "Any new version of an Abarth car should deliver some sort of a performance enhancement, otherwise it is useless."

Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.