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Fiat Chrysler recalls 650,000 Dodge, Jeep SUVs for brake issue

Fiat Chrysler Automobiles said Tuesday it's voluntarily recalling nearly 650,000 Jeep Grand Cherokee and Dodge Durango SUVs to ensure that brake-booster shields were properly installed. The recall affects mostly vehicles sold in the U.S. but also roughly 60,000 combined in Canada and Mexico. The shields were installed in 2014 in conjunction with a recall involving the same set of vehicles, which cover the model years 2011 through 2014. A review of warranty data led to an FCA U.S. investigation that discovered the problem. FCA says it is aware of one potentially related accident, but no injuries. The shields are designed to keep water away from the boosters, lest it cause corrosion or freeze in cold temperatures and negatively affect brake performance. Brakes will still function even if boosters are compromised by water, FCA says, but drivers may experience brake-pedal firmness. In some cases, a potential booster issue may trigger a warning light or activation of the anti-lock brakes. Customers who've observed any of those conditions are urged to contact their dealers. The automaker says it plans to notify affected owners that free service to check and repair the issue if necessary will be available in early November. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Recalls Dodge Jeep Safety SUV FCA

Chrysler recalling nearly 141k vehicles over electrical woes

Software glitches that randomly illuminate warning lights and cause instrument cluster blackouts are forcing Chrysler to recall 140,800 vehicles, The Detroit News reports. The automaker is recalling 132,000 2014 Jeep Grand Cherokees, 91,559 of which are in the US. In addition to the Jeep recalls, Chrysler is adding 10,800 2014 Ram 1500, 2500 and 3500 trucks to the list for similar problems.
Chrysler reportedly says, "Both events occurred infrequently and appeared to resolve themselves by tuning the vehicle's ignition off and then on."
Engineers discovered a problem with the anti-lock-braking system software that causes the instrument cluster display of the Grand Cherokee to illuminate warning lights and black out - even its ABS and electronic stability control systems are affected. To fix the Jeeps, Chrysler will update the vehicle's software.

Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM