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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

Auto Mergers and Acquisitions: Suicide or salvation?

We love the Moses figure. A savior riding in from stage right with the ideas, the smarts, and the scrappiness to put things right. Alan Mullaly. Carroll Shelby. Lee Iacocca. Andrew Carnegie. Steve Jobs. Elon Musk. Bart Simpson. Sergio Marchionne does not likely view himself with Moses-like optics, but the CEO of Fiat Chrysler Automobiles recently gave a remarkable, perhaps prophetic interview with Automotive News about his interest and the inevitability of merging with a potential automotive partner like General Motors. Marchionne has been overtly public about his notion that GM must merge with FCA. For a bit of context, GM sold 9.9 million vehicles in 2014, posting $2.8 billion in net income, while FCA sold 4.75 million units and earned $2.4 billion in net income, painting a very rosy FCA earnings-to-sales picture. But that's not the entire picture. Most people in the auto industry still remember the trainwreck that was the DaimlerChrysler "merger" written in what turned out to be sand in 1998. It proved to be a master class in how not to fuse two companies, two cultures, two continents, and two management teams. Oh, it worked for the two individuals at both helms pre-merger. They got silly rich. And the industry itself was in a misty romance at the time with mergers and acquisitions. BMW bought Rolls-Royce. Volkswagen Group bought Bentley, Bugatti, and Lamborghini, putting all three brands into their rightful place in both products and positioning. No marriages there, so no false pretense. Finally, Nissan and Renault got married in 1999. A successful marriage requires several rare elements in this atmosphere of gas fumes and power lust. But a successful marriage requires several rare elements in this atmosphere of gas fumes and power lust, the principle part being honesty. Daimler and Chrysler lied to each other. The heads of each unit, the product planners, and finance all presented their then-current and long-range forecasts to each other with less-than-forthright accuracy. Daimler was the far greater equal and no one from the Chrysler side enjoyed that. The cultures were entirely different, too, and little was done to bridge that gap. Which brings me back to the present overtures by Marchionne to GM. "There are varying degrees of hugs," Marchionne stated in the Automotive News piece. "I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you." Seriously?

Ram 1500 EV shown in more clarity with new teaser images

Besides the first electric Jeep and other product plans, Stellantis gave us yet another preview of the upcoming electric Ram 1500 pickup truck. The company isn't giving much away, but these new renderings do give us some more details on what the truck will look like. The most striking features of the front are the pairs of LED lights above and below that meet toward the middle in a sort of dog bone shape. In the middle is the updated Ram logo that's been featured for its "Ram Revolution" program that takes input from Ram fans for designing the truck. The hood has creases that are suggestive of the dual-level, semi-truck-inspired design that has stuck with the truck since the 1990s. It also seems to have a heat-extractor vent design, which we're not sure would really be functional on an electric truck. Along the sides, the fenders appear to be pushed far outward. The edge where the cab meets the bed has a jog in it that pushes into the cab. It has us thinking the cab and bed may be one piece, along the lines of the Chevy Silverado EV. That single piece will still ride on a separate frame, though, since the Ram 1500 EV will be built on the STLA Frame platform. Continuing on the topic of side styling, the window sill rises toward the rear pillar, and that rear pillar leans forward, again more like the GM electric truck designs. At the back, the electric Ram has taillights that connect into the tailgate like the Ford F-150 Lightning. The shape also echoes that of the headlights, along with the illuminated Ram logo. The rear shot also gives more clarity on the unique cab design. The electric Ram will go into production in 2024. As touched on, it will use the STLA Frame platform that features a traditional separate frame from the body. The platform can accommodate 159 to 200 kWh of battery capacity with a range of up to 500 miles. Early renderings also show the platform using independent suspension both front and rear. Furthermore, Ram has said it will offer a plug-in hybrid variant based on the electric model to go on sale the same year. And electrification won't stop at the 1500.