Auto industry sales volume slipped 1.9% year over year in January, from 1.16 million light vehicles sold during January 2016 to 1.14 million last month. On the bright side, January’s seasonally adjusted annualized sales rate of 17.57 million outpaced Wall Street’s consensus forecast of 17.3 million, even if it was slightly below last year’s 17.62 million result.
Category: Jeep
Fiat Chrysler Accused of Diesel Emissions Cheating by U.S.
Fiat Chrysler Automobiles NV was accused of violating pollution laws with 104,000 diesel vehicles, sending the shares plunging on the prospect the automaker may follow Volkswagen AG in facing billions of dollars in fines. The Environmental Protection Agency alleged Fiat Chrysler put software in Jeep Grand Cherokee and Ram 1500 models that allows them to exceed pollution limits.
Fiat Chrysler Halted as EPA Alleges Diesel Emissions Cheat
Fiat Chrysler Automobiles NV shares were halted after plunging the most intraday on record as the U.S. government accused the company of using software that allowed excess diesel emissions in about 104,000 vehicles. The Environmental Protection Agency alleges Fiat Chrysler violated the Clean Air Act by installing and failing to disclose the software in Jeep Grand Cherokee sport utility vehicles and Ram 1500 pickups sold in the U.S., according to a statement.
Marchionne Suggests Trump Might Support Merger With Rival GM
Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles NV, suggested that President-elect Donald Trump might support the idea of General Motors Co. merging with his company.
Fiat Chrysler to recall 50K SUVs; engines could stall
The recall covers the Dodge Journey and Jeep Compass and Patriot from the 2016 model year. All have 2-liter or 2.4-liter four-cylinder engines.