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Chrysler recalls 2013 Ram pickups, 2014 Jeep Grand Cherokee

Chrysler's spate of successful products is about to be marred by a trio of recalls. The Pentastar is recalling 51,477 Ram trucks and Jeep SUVs. According to the National Highway Traffic Safety Administration, there have been no reported accidents, injuries or deaths related to the affected vehicles.
The largest action covers the Ram 1500, which is seeing 45,961 trucks being recalled. Models built between June 26, 2012 and February 5, 2013 are being recalled due to a potential software issue in the electronic stability control. Apparently, the system can be randomly deactivated upon vehicle startup.
Chrysler is also recalling 4,458 2014 Jeep Grand Cherokee models. Covering everything but the SRT models, the potentially defective SUVs were built between January 14 and March 20, 2013. This recall focuses on "premium headlights," which means cars equipped with LED running lights. During the switch from the bright daytime running lamp setting to the low-intensity parking light setting, an electrical spike can cause one of the Jeep's computers to go into a safe mode, turning off the LEDs. This violates Federal Motor Vehicle Safety Standards.

2017 Chrysler Pacifica Hybrid Quick Spin | Dad tested, kid approved

The Chrysler Pacifica Hybrid is a compelling minivan, which feels less weird to say the more we say it (and the more we drive it). Adding a plug-in powertrain to an already solid family hauler makes it more interesting, and leaves the world just a little less greenhouse-gassy for those children you'll be carrying around in it. So, when we had the chance to actually take one home with us, we strapped in the car seat and put it through some real-world usage. For reference, the non-hybrid Pacifica comes with the standard Pentastar 3.6-liter V6, connected to a nine-speed automatic transmission. It provides 287 horsepower and offers 19 miles per gallon city, 28 highway, and 22 combined. The Pacifica Hybrid adds two electric motors and a variable transmission to its more efficient, less powerful Atkinson cycle V6, providing a total of 260 horsepower. The Hybrid also has a 16-kWh battery pack to power its electric driving. It's rated at a combined 84 miles-per-gallon equivalent. Our test kid, Wolfgang, loved the Pacifica Hybrid. He repeatedly asked for rides, which is not unusual, but seemed to prefer the Chrysler to his other options. He even got upset the one time we put him in Mama's Mercedes GLK while the Pacifica was in the driveway. Wolfgang especially loved the buttons to open and close the automatic doors. After heading indoors, he'd occasionally point out the window toward the minivan saying, "Button." He also thought the horn was hilarious. He's heard his fair share of car horns so far in his young life, but none have ever gotten the same belly laughs that the horn in the Pacifica evoked. We have no idea why. It sounds like a normal car horn to us. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Getting the car seat in and out of the Pacifica Hybrid was super easy. The captain's chairs make it even easier. The LATCH anchors were prominent, and easy to find by feel when reaching over the seat. It also helps that you can access the inside anchor by hopping to the other side of the vehicle, and the openness of the second row provides more room to work with. Once in the car, the huge door openings made it easy to get the little guy in and out of the rear-facing seat. While driving, the quietness of the cabin helps facilitate the sort of rudimentary conversation a toddler can hold.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.