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Even Ferrari swept up in latest Takata recall expansion

The scope of Takata's deadly airbag problems continues to widen. Eight manufacturers announced recalls Friday that affect more than 12 million vehicles, according to documents filed with federal regulators. The automakers include Honda, which is recalling 4.5 million units, Fiat Chrysler with 4.3 million, Toyota with 1.65 million, and Subaru, which is recalling almost 400,000. Some of these cars include the Saab 9-2x and Pontiac Vibe that Toyota and Subaru made for General Motors. Mazda will recall 730,000 vehicles and Nissan has 400,000 affected units. The smallest numbers were posted by Mitsubishi, with 38,000 Lancers manufactured from 2006 to 2007, and as a noteworthy high-end manufacturer, Ferrari is calling back 2,800 vehicles. These are all US-market cars. Beyond America, the Japanese Transport Ministry has announced seven million additional vehicles will be recalled, which means 19.6 million vehicles across the globe are affected by recalls announced. The defects have been traced to an insufficiently manufactured airbag inflator, which lacks a drying agent that would prevent the inflators from deteriorating over time. Thirteen deaths have been linked to the faulty airbags, which have become unstable and are prone to exploding and showering vehicle occupants with lethal amounts of metal shrapnel. A private equity firm, KKR & Co., has been named in a possible buyout of the struggling Takata. Related Video: News Source: ReutersImage Credit: Shutterstock Government/Legal Recalls Ferrari Honda Mazda Automakers Mitsubishi Nissan Pontiac Subaru Toyota Saab Safety

Marchionne now considering 'Plan B' partners for FCA merger

Okay Sergio, just stop. With the sting of rejection from General Motors CEO Mary Barra still fresh, Fiat Chrysler Automobiles CEO Sergio Marchionne is moving on and trying to find another automaker to merge with. FCA may not be giving up hope on a merger with GM, but that doesn't mean it isn't at least considering alternatives. Sergio's so-called "Plan Bs" include the Volkswagen Group, as well as smaller Asian outfits, like Mazda, Honda, Suzuki, and Hyundai. Bloomberg reports that France's beleaguered PSA Peugeot Citroen could as a sort of "fallback" option due to its relative lack of volume, an unidentified source claimed. There are, of course, problems with each option. According to Bloomberg, Volkswagen expects complete control of a company, but the Agnelli family, which holds a large portion of FCA stock, is loathe to relinquish its stake in the company. On top of that, VAG just isn't looking to make a deal right now. Mazda, meanwhile, is enjoying a new partnership with Toyota and Suzuki is partially owned by VW. Honda and Hyundai have never expressed any interest in a partnership with a western automaker. That kind of just leaves the French then, but even that remains a long shot. As Bloomberg tells it, PSA boss Carlos Tavares is still working on a turn-around plan, and would want at least another six months to execute before even considering a deal with FCA. And even then, Tavares hasn't given any indication that he's considering a pairing. News Source: BloombergImage Credit: Paul Sancya / AP Chrysler Fiat GM Honda Hyundai Mazda Suzuki Citroen Peugeot Sergio Marchionne FCA Mary Barra psa peugeot citroen

Subaru, Mazda profits dip; both blame exchange rates

While some larger automakers took a beating on Q4 earnings, some of Japan's smaller operations managed to keep their heads just above water despite currency issues and slumping sales industry-wide. Subaru, which capped off its 11th consecutive year of U.S. sales increases, reported a 42-percent drop in operating profit in the final quarter of 2019; Mazda, which operates on an even smaller scale, saw a 76-percent drop.  Per Automotive News, both companies faced challenges apart from navigating currency exchanges.  Subaru Subaru's 2019 was marred by warranty costs stemming from repairs on high-volume models, including the Impreza and Crosstrek. Despite the drop in profit, company revenues only slid 2.3 percent. The company also says that it has managed to curtail incentive spending, largely thanks to replacement models that needed less help moving out of showrooms.  America remained a bright spot, with 2019 sales volumes increasing by nearly 3 percent over 2018. Subaru is hoping that figure will increase to 4.0 percent in 2020. Subaru's wholesale deliveries also increased in western Europe, but dropped precipitously (28 percent) in the company's home market.  Mazda The smaller Mazda faced similar challenges, but its 2019 lacked some of Subaru's more dramatic bright spots. Worldwide shipments of new vehicles dropped by 8 percent, aiding a revenue decline of 5 percent. Mazda's vehicles remained profitable on a per-unit basis, but only just.  Mazda has been undergoing aggressive cost-cutting measures, but even those were no match for reduced volumes and unattractive currency exchange rates.  Despite these challenges, both companies are keeping their earnings outlooks unchanged. The fourth quarter of 2019 represented the third quarter in both companies' fiscal years, which will end in March.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Subaru WRX STI S209 | POV Drive