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FCA fibbed on sales according to internal report

Following last week's news that Fiat Chrysler Automobiles (FCA) is under investigation by the Department of Justice and Securities and Exchange Commission for allegedly fudging sales figures, a new report in Automotive News says an internal investigation at FCA uncovered misreported sales. According to the AN story, 5,000 to 6,000 vehicles from various FCA brands were reported sold by dealers, but no customers existed for those cars. FCA sales chief Reid Bigland has already put a stop to the practice. One potential reason for the practice was to maintain the company's month-to-month sales increase streak, currently at 75 months. In April, FCA added a lengthy disclaimer to its sales announcements: "FCA US reported vehicle sales represent sales of its vehicles to retail and fleet customers, as well as limited deliveries of vehicles to its officers, directors, employees and retirees. Sales from dealers to customers are reported to FCA US by dealers as sales are made on an ongoing basis through a new vehicle delivery reporting system that then compiles the reported data as of the end of each month. "Sales through dealers do not necessarily correspond to reported revenues, which are based on the sale and delivery of vehicles to the dealers. In certain limited circumstances where sales are made directly by FCA US, such sales are reported through its management reporting system." FCA did not provide comment to Automotive News. Click through for the full story and more details. Related Video: Earnings/Financials Government/Legal Chrysler Dodge Fiat Jeep RAM sales Sergio Marchionne FCA USDOJ reid bigland

Dongfeng and PSA extend Chinese joint venture

BEIJING/PARIS — China's Dongfeng and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). Under the deal, the venture could get the rights to PSA's new brands in China and will benefit from new technologies and intellectual properties, the Chinese company said. PSA was not immediately available for comment. The announcement comes a day after the companies said Dongfeng would reduce its 12.2% stake in PSA by selling 30.7 million shares to the French company. Analysts said the move could smooth U.S. regulatory approval for PSA's roughly $50 billion (GBP38.97 billion) merger with Italian-American carmaker FCA. The sale of Dongfeng's shares in PSA, worth around 680 million euros ($757 million), will leave the Chinese group holding around 4.5% of the merged PSA-FCA, which is set to become the world's fourth-biggest carmaker by sales volumes. "As the cooperation between Dongfeng and PSA deepens, we expect the joint venture to continue making good progress in China," a Dongfeng representative said. On a conference call, Dongfeng said DPCA would have exclusive rights to PSA's Opel cars should the partners agree to bring the brand to China, and enjoy lower prices on car parts imported from PSA. Earlier this year, a document seen by Reuters showed Dongfeng and PSA plan to cut jobs at Wuhan-based DPCA and reduce its number of car plants to try to make the venture more profitable. Chrysler Dodge Fiat Jeep RAM Citroen Peugeot China FCA PSA Dongfeng

Ram's new six-figure TRX Sandblast Edition hides in plain sight

The Ram 1500 TRX gets a new appearance package for 2022, this time leaning into the 702-horsepower supercharged supertruck's desert-shredding antics with a new Mojave Sand exterior paint and accompanying accent package. Together, it's called Sandblast. And it's brown. "Our customers want to stand out from the crowd and the new Ram 1500 TRX Sandblast Edition allows them to do just that, while offering the segment’s best combination of performance, capability and technology," said Ram boss Mike Koval Jr. "WeÂ’re constantly expanding and exploring new ideas to meet the needs and fuel the imagination of our passionate customers and this is the latest example of how Ram trucks deliver features that will continue to win over more and more buyers." The appearance package builds on the existing TRX "Level 2" build. In addition to the unique Mojave Sand finish, 18-inch bead lock capable wheels and the Sandblast graphics package, it receives Light Frost interior accent stitching, "TRX" embroidery on the seats, unique carbon accents and a HUD display with the TRX finished to match the Sandblast's exterior.  With destination, the Sandblast will set you back $100,080 including destination — almost exactly $20,000 more than a base-model 2022 TRX. And that's not including the markups. Good luck.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.