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Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.

NHTSA investigates a million-plus Jeep Cherokees for parking brake issue

The National Highway Transportation Safety Administration (NHTSA) is investigating a potential safety issue that could be present in more than 1 million Jeep Cherokees sold for the 2014-2020 model years. Per owner complaints, these cars may be equipped with an electronic parking brake control module that is susceptible to water intrusion. If the water causes a short, it can result in uncommanded activation of the parking brake while the vehicle is in motion, which can lead to a stall, NHTSA says.  If you follow Jeep Cherokee news closely (and who doesn't?), this issue may ring a bell. That's because Jeep was on the hook for recalling the Cherokee for water intrusion into the liftgate control module, which is fitted right next to the parking brake module. In that instance, short circuits had the potential to cause a fire, which has not so far been indicated as a potential side effect of the new parking brake issue, but any time electricity is involved, there's usually at least some risk for ignition.  The Cherokee is just one of four Stellantis models with a new open investigation, the Detroit Free Press reported Tuesday. NHTSA is also looking into reports of a transmission problem that could strand owners of 2019-2021 Chrysler Pacifica plug-in hybrid minivans and a crankshaft and/or camshaft position sensor problem that could cause a stall in the 2016 Dodge Journey and Jeep Compass. Between the two, these investigations cover an additional 300,000 vehicles.  None of these vehicles are being recalled at this point, however a NHTSA investigation is the first major step toward a recall being initiated. The regulator will work with Stellantis to determine whether a recall is necessary.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Chrysler Dodge Jeep Ownership Safety SUV

Fiat Chrysler and Peugeot boards meet to finalize merger

MILAN/PARIS — The boards of Fiat Chrysler Automobiles and Peugeot will meet separately on Tuesday to discuss finalizing an initial agreement for a $50 billion merger to create the world's number four carmaker, sources said. A source close to FCA said the two companies could announce the signing of a binding memorandum early on Wednesday, followed by a conference call to explain further details later in the day. The two mid-sized carmakers announced plans six weeks ago for a tie-up to help them deal with big challenges in the industry, including a global demand downturn and the need to develop costly cleaner cars to meet looming anti-pollution rules. Ahead of the meetings, entities representing the Peugeot family, Etablissements Peugeot Freres (EPF) and FFP, unanimously approved a proposed memorandum of understanding for the planned merger, a source familiar with the situation said. FCA and PSA have said they would seek to finalize a deal by year-end to create a group with 8.7 million in annual vehicle sales. That would put it fourth globally behind Volkswagen, Toyota and the Renault-Nissan alliance. PSA's Carlos Tavares will be chief executive and FCA's John Elkann — the scion of Italy's Agnelli family, which controls FCA through their holding company Exor — chairman of the combined company. The group will include the Fiat, Jeep, Dodge, Ram, Chrysler, Alfa Romeo, Maserati, Peugeot, DS, Opel and Vauxhall brands, allowing it to serve mass and premium passenger car markets as well as those for trucks and light commercial vehicles. Related Video:       Chrysler Dodge Fiat Jeep RAM Citroen Peugeot