No Reserve! 1997 Chrysler Sebring 2d V6 2.5l on 2040-cars

Auto blog

Weekly Recap: FCA hit with record fine as NHTSA crackdown continues

The National Highway Traffic Safety Administration slapped Fiat Chrysler Automobiles with a record fine this week that could reach $105 million. The punishment comes after NHTSA found problems with the automaker's execution of 23 recalls that affect more than 11 million vehicles. The consent agreement, announced Sunday, calls for FCA to pay a $70-million cash fine and requires the company to spend at least $20 million over a three-year period on industry outreach programs and to beef up old recall campaigns. Failure to comply will result in another $15-million fine. FCA also agreed to federal oversight, which includes an independent monitor to oversee the company's recalls. The $70-million cash fine equals a penalty NHTSA levied on Honda in January. "Fiat Chrysler's pattern of poor performance put millions of its customers and the driving public at risk," NHTSA administrator Mark Rosekind said in a statement. "This action will provide relief to owners of defective vehicles, will help improve recall performance throughout the auto industry, and gives Fiat Chrysler the opportunity to embrace a proactive safety culture." FCA called the deal a "consensual resolution," but admitted that it "failed to timely provide an effective remedy" during certain recalls. "We are intent on rebuilding our relationship with NHTSA and we embrace the role of public safety advocate," the company said in a statement. The announcement kicked off a busy week for the automaker. NHTSA agreed FCA did not need to recall 4.7 million vehicles after an investigation failed to find defects with a power module used in some Jeep, Dodge, and Ram vehicles. A Georgia judge also reduced a civil verdict involving a death in a Jeep Grand Cherokee crash. Amid all of that, the company reported net profit of about 333 million euros, or $364 million in the second quarter on Thursday. OTHER NEWS & NOTES FCA ramps up Hellcat production Despite a decidedly legal and financial week for FCA, there was still time for the performance side of the business to briefly grab the spotlight. The automaker is more than doubling its production of the Dodge Challenger and Charger SRT Hellcats in response to strong demand. The order bank opens the second week of August and production begins in September. FCA will finish up its scheduled 2015 model-year Hellcat builds, and cancel any "unscheduled" versions, though customers will get discounted pricing for 2016.

Which of these five plug-ins should win the 2017 Green Car of the Year?

It's going to be a competitive race for the 2017 Green Car Of The Year. With a minivan in the running for the first time in ages, the five finalists announced by Green Car Journal today include five very different plug-in vehicles. As Ron Cogan, the editor and publisher of Green Car Journal, said in a statement, "electrification is now considered by most automakers an essential technology for current and future high-efficiency models." Let's check out the list: Toyota Prius Prime, the updated plug-in version of the world's best-selling hybrid. Chevy Bolt, GM's all-new entry into the long-range EV game. Chrysler Pacifica, a family hauler with the ability to go 30 miles on electric power. Kia Optima. The nomination is for the full line-up, but really the hybrid and plug-in hybrid models are the green stars here. BMW 330e iPerformance, one of the automaker's many new plug-in hybrids that bring battery power to models outside the i sub-brand. Green Car Journal will announce the winners at the Los Angeles Auto Show on November 17th, along with some, "other green transportation announcements," whatever that means. Last year, the winner was the 2016 Chevy Volt, the first model to snatch up two wins. Which do you think should win this year? Related Video: News Source: Green Car JournalImage Credit: REUTERS/Kevork Djansezian Green LA Auto Show BMW Chevrolet Chrysler Kia Toyota Chevy Bolt chrysler pacifica green car of the year toyota prius prime bmw 330e

Chrysler stays IPO until 2014

There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.