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‘Star Trek’ actor's family settles with Fiat Chrysler over his death

LOS ANGELES — The family of late "Star Trek" actor Anton Yelchin has settled a wrongful death lawsuit with Fiat Chrysler Automobiles NV over the rollaway crash of a Jeep Grand Cherokee that killed the up-and-coming actor almost two years ago. Terms of the settlement, which was filed in Los Angeles Superior Court on Tuesday, were not disclosed. The lawsuit filed by Yelchin's parents, celebrated Russian figure skaters Victor and Irina Yelchin, is believed to be the first wrongful death complaint filed over Fiat Chrysler's April 2016 recall of more than 1.1 million vehicles due to a rollaway risk. Yelchin, 27, best known for playing navigator Pavel Chekov in the "Star Trek" movie reboot, died in June 2016 when his 2015 Grand Cherokee rolled backward in the steep driveway of his Los Angeles home, pinning the actor against a brick wall and fence. Yelchin's final role was in the indie film "Thoroughbreds," which was released this month. In a statement, Fiat Chrysler said on Thursday the company is "pleased that we've reached an amicable resolution in this matter. ... We continue to extend our deepest sympathies to the Yelchin family for their tragic loss." Messages left with Yelchin family attorney Gary Dordick seeking comment were not immediately returned. The lawsuit also accused Fiat Chrysler of negligence, product liability and breach of warranty. Dordick said when he filed the lawsuit that Fiat Chrysler had mailed a recall letter to Yelchin that was received seven days after his death. Final recall notices were sent during that time, but interim notices had been mailed at least 17 days before Yelchin's accident, Fiat Chrysler said. At the time of Yelchin's death, the rollaway problem had been tied to at least 68 injuries, 266 crashes and 308 reports of property damage. Drivers complained they would exit vehicles with the engine running falsely believing the vehicle was in park. Fiat Chrysler furnished a software upgrade to the affected 2014-2015 model year Jeep Grand Cherokee sport utility vehicle as well as 2012-2014 Dodge Charger and Chrysler 300 sedans.Reporting by Eric KelseyRelated Video:

FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.

Fiat Chrysler's profit boosted by Ram and Jeep in North America

MILAN/DETROIT — Fiat Chrysler took the market by surprise by sticking to its full-year profit guidance on Wednesday after a strong performance from its Ram pickup truck in North America helped it defy an industry slowdown. Chief Executive Mike Manley, in FCA's first earnings release since a failed attempt to merge with France's Renault, also left the door open to that or other deals. "We are open to opportunity," Manley said on a call with analysts. "I have no doubt why there still would be interest in it," he added, when pressed on what it would take to revive talks with Renault. Manley declined to comment further. FCA last month abandoned its $35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker. Manley said a merger was not a must-have and Fiat Chrysler's business plan was strong. The company said it remained confident its adjusted earnings before interest and tax (EBIT) would top last year's 6.7 billion euros ($7.5 billion). Given disappointing forecasts from other automakers this earnings season, FCA's confirmation of the outlook sent Milan-listed shares in the Italian-American automaker, whose other brands include Jeep, up over 4%. A broad-based auto sales downturn has rattled the sector, forcing FCA's competitors — including Renault, Daimler and Aston Martin — to cut their sales forecasts after second-quarter results, while U.S. carmaker Ford gave a weaker-than-expected 2019 profit outlook. Japan's Nissan, a long-term partner of Renault, said it would cut 12,500 jobs by 2023 after its earnings collapsed. In the second quarter FCA's adjusted EBIT totaled 1.52 billion euros, versus analysts' expectations of 1.43 billion euros, according to a Reuters poll. FCA's U.S. shipments were down 12% in the second quarter but the group said that the successful performance of its Ram brand resulted in an enhanced share of the large pickup truck market of 27.9%, up 7 percentage points from last year. Adjusted EBIT margin in North America rose to 8.9% from 6.5% in the first quarter, thanks to strong demand for the heavy-duty Ram and the new Jeep Gladiator pickup. Chief Financial Officer Richard Palmer also said FCA expected to report up to 10% margins in the region in both the third and fourth quarters.