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Jeep and Ram could be spun off from FCA, says Marchionne

Jeep is surely the biggest single feather left in the cap of the Fiat Chrysler Automobiles portfolio. Under Sergio Marchionne's leadership, Jeep went from fewer than 500,000 annual sales in 2008 to 1.4 million in 2016, and is on track for 2 million by 2018. Add in the brand's legacy, status as one of the most recognizable nameplates in the world, and rabid fan base, and Jeep has extraordinary monetary value to its parent company. Investors and analysts have certainly noticed Jeep's inherent value. According to The Detroit Free Press, Morgan Stanley's Adam Jonas asked FCA chief Sergio Marchionne if he would ever consider spinning Jeep and Ram, FCA's dedicated truck brand, into a separate corporate entity, and he responded with a simple "Yes." Jonas estimated Jeep's worth in January of this year at $22 billion. Ram was valued at $11.2 billion. Marchionne has a history of spinning off brands while keeping them part of FCA's corporate umbrella. The most noteworthy example of this value maximization was with Ferrari, which now trades on the New York Stock Exchange and rakes in $3.4 billion in annual revenue and close to $435 million in net income, reports the Free Press. Marchionne still serves as chairman and CEO of Ferrari, and Fiat heir John Elkann owns 22 percent of the Italian marque's shares. Even if the offloading of Jeep and Ram into a separate entity would amount to little more than a profit-driven ownership change on paper, it would be huge news to the brands' loyal fanbases. In any case, such a move would likely take years to actually happen and probably wouldn't mean much at all to the products that Jeep and Ram produce. In other words, Jeep fans can keep the pitchforks in the shed ... for now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Some 2014-19 Ram ProMasters recalled for shifter cables that could detach

The National Highway Traffic Safety Administration (NHTSA) has issued a recall for hundreds of thousands of 2014-2019 Ram ProMaster vans with a 3.6-liter engine. Campaign No. 20V036000 states that the shifter cables on these vans could disconnect from the transmission, which could lead to a variety of unsafe situations. The new recall comes after Fiat Chrysler Automobiles (FCA) has issued transmission-related recalls for several other brand products in recent years. Jeep and FCA were thrust into the spotlight in 2016, when "Star Trek" actor Anton Yelchin's shocking death was linked to what was deemed an unintuitive shifter design. FCA recalled more than 1 million vehicles with a rocker-style eight-speed ZF shifter, including Jeep Grand Cherokees, Chrysler 300s, and Dodge Chargers. The design was unclear to some, and that confusion lead to dangerous rollaways. In 2017, FCA was back in the news when it announced a transmission recall for 1.8 million Ram trucks that had a faulty interlock that could result in the transmission shifting out of park. And in 2019, FCA announced two more transmission recalls, this time for 320,000 Dodge Darts and 51,788 Fiat 500s, both of which had cable bushings that could degrade due to temperature and moisture.  FCA's unsettling pattern has bled into the new decade, as 222,207 ProMasters have been recalled for an entirely separate transmission issue that could once again lead to a rollaway risk. The NHTSA estimates approximately three percent of these vehicles could have built with a transmission gear shift cable that was kinked during production. According to the recall document, "the vehicle population was determined to include all ProMaster vehicles equipped with a 3.6-liter engine from the beginning of 2014 MY production on April 23, 2013, through September 14, 2019, when the vehicle manufacturing process was revised." If the shift cable separates, the shifter is no longer connected to the transmission. The driver, then, would not be able to shift properly, or the transmission could be in a different position than believed. If the driver thinks the vehicle is parked, but it is actually still in drive or neutral, the vehicle could unintentionally move. As a precautionary measure until the vans are checked and fixed, FCA suggests owners use the parking brake when parking these vehicles. FCA will begin notifying owners on March 13, 2020 and plans to replace the damaged parts free of charge.

FCA nears plea deal in diesel emissions fraud probe

Fiat Chrysler Automobiles (FCA) is nearing an agreement to plead guilty to criminal conduct to resolve a multiyear emissions fraud probe surrounding Ram pickup trucks and Jeep sport-utility vehicles with diesel engines, people familiar with the matter said. FCA lawyers and U.S. Justice Department officials are brokering a plea deal that could be unveiled in coming weeks and include financial penalties totaling between $250 million and $300 million, the people said. Such a resolution with FCA, which is now part of Stellantis NV, would come more than four years after Volkswagen AG pleaded guilty to criminal charges  to resolve its own diesel-emissions scandal involving nearly 600,000 vehicles.It would also mark the final significant chapter in the government crackdown on automakers' emissions practices that was precipitated by Volkswagen's deception, which became known as "Dieselgate." The FCA investigation focuses on roughly 100,000 diesel-powered vehicles that allegedly evaded emissions requirements. The plea negotiations are fluid and some terms, including the size of any financial penalties, could change as discussions continue, the people said. Justice Department officials are preparing paperwork that will likely be negotiated with FCA to finalize the plea deal, which could result in changes and also present an outside chance for the agreement to fall apart, the people said. A plea agreement would cap a series of investigations dating back to 2015 surrounding diesel-powered vehicles in FCA's U.S. lineup. The current criminal investigation targets the U.S unit of the Italian-American automaker. The affected vehicles span model years 2014 to 2016. Representatives for FCA parent Stellantis and the Justice Department declined to comment. The scandals over emissions cheating tarnished diesel technology and accelerated the industry's shift to electric vehicles. The European automakers had promoted "clean diesel" technology as a way to reduce carbon dioxide emissions and ease a transition to an all-electric future. When regulators on both sides of the Atlantic uncovered evidence that diesel vehicles polluted far more in real world driving, the argument for a slower transition to battery electric vehicles was shredded. Now, automakers are accelerating battery electric vehicle development to comply with tougher, post-Dieselgate pollution standards.