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US prepares to sue Fiat Chrysler over diesel emissions testing

NEW YORK - The Justice Department plans to file a civil lawsuit against Fiat Chrysler Automobiles NV over excess diesel emissions as early as this week if no agreement is reached with the Italian-American automaker, two sources briefed on the matter said on Wednesday. The Environmental Protection Agency in January accused FCA of illegally using undisclosed software to allow excess diesel emissions in about 104,000 cars and SUVs, the result of a probe that stemmed from regulators' investigation of rival Volkswagen AG. The EPA and California Air Resources Board have been in talks with FCA about the excess emissions and whether the agencies would approve the sale of 2017 FCA diesel models. A federal judge in California has set a May 24 hearing on a series of lawsuits filed by owners of vehicles against Fiat Chrysler and the Justice Department is expected to file its action by then if no agreement is reached. FCA said on Wednesday it believed that any litigation would be "counterproductive" to ongoing discussions with the EPA and California Air Resources Board. The company added that "in the case of any litigation, FCA US will defend itself vigorously, particularly against any claims that the company deliberately installed defeat devices to cheat U.S. emissions tests." The Justice Department took the same procedural step in early 2016 against Volkswagen, nearly four months after the German company admitted using software to emit excess diesel emissions in nearly 500,000 vehicles. The Justice Department has had an ongoing criminal investigation into FCA's conduct since last year, Reuters reported in January. The probe has turned up internal emails written in Italian and other documents about engine development and emissions issues, sources briefed on the probe said. U.S. regulators said FCA failed to disclose engine management software in 104,000 U.S. 2014-2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks with 3.0-liter diesel engines. The European Commission has launched legal action against Italy for failing to respond to allegations of emission-test cheating by Fiat Chrysler in a procedure that could lead to the country being taken to court. The EPA has said the maximum possible fine against FCA could be $4.6 billion. In February, FCA said it had received requests for information and subpoenas from U.S. federal and state authorities, including the Securities and Exchange Commission, for diesel issues.

Fiat Chrysler begins Magneti Marelli spinoff

MILAN — Fiat Chrysler has kicked off its planned spinoff of parts maker Magneti Marelli, which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli similar to his earlier spinoff of Ferrari. Analysts say Magneti Marelli could be worth between 3.6 billion and 5 billion euros ($4.2 billion to $5.8 billion). It sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid. FCA has created a separate entity called MM Srl, the document showed, into which it will fold Magneti Marelli's electronics and electro-mechanical operations related to racing motorbikes and racing cars, as well as 14 other holdings in various companies around the world, including Germany, Slovakia, Mexico and South Africa. MM will be incorporated into a Dutch holding company via a cross-border merger, it added. FCA declined to comment. The move follows a similar procedure adopted by FCA for the spinoff and listing of Ferrari as well as of trucks and tractor maker CNH Industrial, both registered in the Netherlands and listed in Milan. The Dutch holding company would allow Marchionne, known for his success in extracting shareholder value through this strategy, to introduce a loyalty share scheme to reward long-term investors through multiple voting rights, as was the case with CNH and Ferrari. That would tighten the grip of FCA's controlling shareholder Exor, the Agnelli family's investment holding company, on the parts maker. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, FCA has said. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family — FCA's main shareholder — was put off by low industry valuations and did not want its stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters in March. Magneti Marelli has often been touted as a takeover target, and FCA has fielded interest from various rivals and private equity firms over the years.

2020 Chrysler Pacifica Review & Buying Guide | A marvelous minivan

The 2020 Chrysler Pacifica is one of our favorite minivans, and the plug-in hybrid version, the Pacifica Hybrid, is even better. Roomy, comfortable and — dare we say — stylish, itÂ’s good enough to at least garner consideration from folks who would otherwise not be caught dead driving a minivan. It also offers a ton of standard and optional features to make life better for the driver up front all the way back to the kids seated in the comfy third row. While the well-mannered and techy Honda Odyssey is also worth cross shopping, we think the Pacifica is practical and enjoyable enough that weÂ’d even choose it over a lot of three-row crossovers. What's new for 2020? For the 2020 model year, Chrysler drops the L and LX trims, replacing them with a budget minivan that bears its own nameplate — the Chrysler Voyager — and starts at $28,480. That means the cheapest Pacifica you can get is the Limited trim, starting at $35,240. There are also a few extra features added here and there to the various trim levels, but nothing major apart from the flashy Red S Appearance Package available on the Limited versions of both the Pacifica and Pacifica Hybrid. This gets red and black Nappa leather upholstery, grey contrast stitching and piping, some red S emblems inside and out black 20-inch alloy wheels (18-inch on the Hybrid), Harman Kardon sound system and an advanced safety package. There are more significant changes in store of the Pacifica later this year when the 2021 model arrives, including some design tweaks and the addition of available all-wheel drive. What's the Pacifica interior and in-car technology like? The Pacifica interior is a lovely place to spend time. Up front, thereÂ’s plenty of room to stretch out, and lots of places to stash items within easy reach. WeÂ’re big fans of the huge cupholders, which are capacious enough to house two 32-ounce Nalgene water bottles side by side. The materials are nice, with good attention to detail. We were quite fond of the perforated leather seats, smooth leather steering wheel and attractive stitching in our long-term Pacifica Hybrid tester. As for tech, thereÂ’s plenty, and itÂ’s good. We like the big multimedia touchscreen in the center stack, and find this iteration of ChryslerÂ’s Uconnect multimedia system to be intuitive and responsive. The Pacifica offers a number of helpful driver aids, including adaptive cruise control and plenty of parking cameras.