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Jeep sets all-time sales record in 2012

Last year was good to Jeep. Chrysler has announced its trail-rated brand set an all-time global sales record in 2012 by moving 701,626 units. That number easily surpasses the previous record set in 1999 when Jeep sold 675,494 models. All told, the brand saw a 19-percent sales increase worldwide over 2011, and much of that swell can be traced directly to the Wrangler. While the Grand Cherokee led Jeep sales, the Wrangler posted record numbers both globally and within the US, moving 194,142 and 141,669 units in each market, respectively.
Meanwhile, the Compass beat its previous global sales record with 103,321 units rolling off of dealer lots. In the US, Jeep sold 62,010 Patriot units, breaking that model's previous record as well. Jeep's impressive performance in 2012 marks the second year in a row the brand has seen double-digit percentage sales increases. Check out the full press release below.

Fiat Chrysler to pay $40 million fine for inflating sales numbers

DETROIT — Fiat Chrysler is paying $40 million to settle with U.S. securities regulators who say the automaker misled investors by overstating its monthly sales numbers over a five-year period. The Italian-American company inflated sales by paying dealers to report fake numbers from 2012 to 2016, the U.S. Securities and Exchange Commission alleged in a complaint. Fiat Chrysler agreed to pay the civil penalty and to stop violating anti-fraud, reporting and internal accounting control regulations, the SEC said Friday in a statement. The automaker did not admit or deny the agency's allegations, the statement said. "This case underscores the need for companies to truthfully disclose their key performance indicators," Antonia Chion, associate director in the SEC's Enforcement Division, said in the statement. She noted that the new vehicle sales figures give investors insight into the demand for an automaker's products, a key to assessing the company's performance. Fiat Chrysler said it has reviewed and refined its sales reporting procedures. It said the payment will not have a large impact on its financial statements. The agency said the automaker boasted about a streak of year-over-year sales increases into 2016, when the streak actually was broken in September of 2013. When the company disclosed the sales scheme in 2016, it said that it had a "reserve" stock of cars that had been shipped to big fleet buyers such as rental car companies but not recorded as sales. The SEC said employees called this database of actual but unreported sales the "cookie jar." The company dipped into those sales to stop the streak from ending, or when it would have missed other sales targets. Fiat Chrysler said it now records sales as soon as vehicles are shipped to customers. It has also take steps to ensure that a sale is immediately subtracted from its books when it finds out the deal was scuttled because the buyer backed out or couldn't get financing. The SEC probe is another in a long string of legal troubles for Fiat Chrysler. It also faces federal investigations into illegal payments to union officials through a training center, and a criminal probe into allegations that its diesel-powered trucks were programmed to cheat on emissions tests. The company has denied cheating, but federal prosecutors charged an engineer earlier this week and said he conspired with others. In June, Fiat Chrysler's U.S.

Waymo picks Detroit factory to build self-driving fleet by mid-2019

SAN FRANCISCO — Alphabet Inc's Waymo said on Tuesday it had chosen a factory in Detroit to mass produce self-driving cars, looking to the historical heart of the auto industry to build the vehicles of the future. The company's chief executive, John Krafcik, said in a blog post that Waymo would partner with American Axle & Manufacturing to lease and repurpose an existing Detroit facility that will be operational by mid-2019. The facility belongs to American Axle, next to the GM Hamtramck facility that is at risk of being shuttered, and is across the Detroit River from Windsor, where the Chrysler Pacificas that Waymo uses are built. Presumably Waymo will do the self-driving fitment of Pacificas at the new facility. Waymo said in January it had chosen Michigan for its first production facility, adding it would receive incentives from the public-private partnership agency, the Michigan Economic Development Corporation, and create up to 400 jobs over time exclusively related to self-driving. Krafcik said in his blog post Tuesday that it's the "perfect facility," with up to 200,000 square feet to expand into. He said Waymo will hire the region's auto manufacturing talent. Waymo plans to buy 62,000 Pacificas and 20,000 Jaguars and convert them for autonomous driving. By 2022, it intends to conduct about 1 million trips per day. In a sea of rivals, Waymo is generally thought of as far ahead in the self-driving race. It already operates a robotaxi service in Arizona that it plans to expand geographically over time. Global automakers, large technology companies and startups are all engaged in self-driving efforts, but experts expect it will be years before systems are ready to be rolled out in all areas, with software and regulations among the many challenges. Waymo is competing with rivals General Motors and Uber Technologies to deploy such vehicles for the masses. Tesla CEO Elon Musk has also announced the company plans to launch a robotaxi service in 2020. Waymo, which has been working on self-driving technology for a decade, provided few new details. American Axle, with which Waymo is partnering for its Detroit facility, was formed in 1994 when an investment team purchased five plants that General Motors had put up for sale. GM plans to end output at its last Detroit factory next year, after announcing in November a plan to halt production at five North American assembly plants and cut about 15,000 jobs.