2007 Chrysler Pt Cruiser Gt Wagon 4-door 2.4l on 2040-cars

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PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

For thousands of US auto workers, the downturn is already here

LORDSTOWN, Ohio - Wall Street is fretting that the auto industry is heading for a downturn, but for thousands of workers at General Motors factories in the United States, the hard times are already here. Matt Streb, 36, was one of 1,200 workers laid off on Jan. 20 - inauguration day for President Donald Trump - when GM canceled the third shift at its Lordstown small-car factory here. Sales of the Chevrolet Cruze sedan, the only vehicle the plant makes, have nosedived as consumers switch to SUVs and pickup trucks. Streb is looking for another job, but employers are wary because they assume he will quit whenever GM calls him back. "I get it," said Streb, who has a degree in communications, "but it's frustrating." Layoffs at Lordstown and other auto plants point to a broader challenge for the economy in Midwestern manufacturing states and for the Trump administration. "This is about economics, not what Trump says. Even if Trump went out and bought 10,000 Cruzes a month, he wouldn't get the third shift back here." The auto industry's boom from 2010 through last year was a major driver for manufacturing job creation. The fading of that boom threatens prospects for US industrial output and job creation that were central to Trump's victory in Ohio and other manufacturing states. "This is about economics, not what Trump says," said Robert Morales, president of United Auto Workers (UAW) union Local 1714, which represents workers at GM's stamping plant at Lordstown. "Even if Trump went out and bought 10,000 Cruzes a month, he wouldn't get the third shift back here." Last week the Federal Reserve said factory output fell 0.4 percent in May, the second decline in three months, due partly to a 2 percent drop in motor vehicles and parts production. Mark Muro, a senior fellow at the Brookings Institution, has compiled data from government sources that show the auto industry punching higher than its weight in job creation in recent years - accounting for between 60 percent and 80 percent of all US manufacturing jobs added in 2015 and 2016. In the first quarter of this year, the auto industry accounted for less than 2 percent of the 45,000 manufacturing jobs created. "There's no argument with the idea that auto has been pulling the manufacturing sled up the mountain for the last three or four years," Muro said.

NHTSA investigating Harman Kardon for software vulnerabilities

The National Highway Traffic Safety Administration is investigating infotainment units from Harman Kardon, which produces FCA's Uconnect, to determine if Harman Kardon systems used by other companies are also vulnerable to hackings. Researchers discovered a hole in the cellular connection to the Uconnect infotainment in a Jeep Cherokee. They were able to exploit it to gain access to the vehicle's brakes, radio, and other systems. In the wake of the hack, FCA pledged to send out 1.4 million USB drives to update the software. Politicians also attacked the automaker for not reporting the problem sooner, and NHTSA opened an investigation to find whether the fix worked. INVESTIGATION Subject : Software security vulnerability Date Investigation Opened: JUL 29, 2015 Date Investigation Closed: Open NHTSA Action Number: EQ15005 Component(s): EQUIPMENT All Products Associated with this Investigation Equipment Brand Name Part No. or Model No.Production Dates HARMAN KARDON R3R4 - Details Manufacturer: HARMAN INTERNATIONAL SUMMARY: On July 23, 2015, Fiat Chrysler Automobiles (FCA) submitted a safety recall report to NHTSA concerning a software security defect condition in approximately 1.4 million model year (MY) 2013 through 2015 vehicles equipped with Uconnect 8.4A (RA3) and 8.4AN (RA4) radios manufactured by Harman Kardon (Recall 15V-461). According to FCA, software security vulnerabilities in the recalled vehicles could allow unauthorized third-party access to, and manipulation of, networked vehicle control systems. Unauthorized access or manipulation of the vehicle control systems could reduce the driver?s control of the vehicle increasing the risk of a crash with an attendant increased risk of injury to the driver, other vehicle occupants, and other vehicles and their occupants within proximity to the affected vehicle. This EQ is being opened to obtain information from the supplier of Chrysler Uconnect units to determine the nature and extent of similarities in other infotainment products provided to other vehicle manufacturers. If sufficient similarities exist, the investigation will examine if there is cause for concern that security issues exist in other Harman Kardon products. Related Video: