Blog Exposure – Fiat Chrysler Recalls Nearly 1.48 Million Trucks in North America for Shifter Defect

LONDON, UK / ACCESSWIRE / December 27, 2017 / Active-Investors.com has just released a free research report on Fiat Chrysler Automobiles N.V. (NYSE: FCAU) (“FCA”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FCAU as the Company’s latest news hit the wire. On December 22, 2017, the Company announced that it would recall around 1.48 million heavy-duty trucks in the United States, Canada, Mexico, and some other markets to fix the shifter defect that may allow the drivers to shift out of park mode without depressing the brake pedal. The recall is mainly in North America. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Fiat Chrysler Automobiles most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=FCAU

Recall Excludes Model-Year 2017 Trucks Built After December 2016

The recall is limited to vehicles equipped with shifters mounted on their steering columns. The recall includes certain 2010 through 2017 Ram 2500 and 3500 pickups; many 2011 through 2017 Ram 3500, 4500, and 5500 chassis cabs; and 2016 and 2017 Ram 3500 chassis cabs that weigh less than 10,000 pounds. Also covered are some 2009 through 2017 Ram 1500 pickups. All model-year 2017 trucks built after December 31, 2016, are excluded.

Key Reason for Defect

The brake-transmission shift interlock (BTSI) device can fail due to a long-term exposure to high interior temperatures linked to an electrical problem. It can let the shifter move out of park without the brake pedal being pressed, or without a key in the ignition. If BTSI becomes disabled, the risk of the trucks rolling away accidentally increases. The Company reported seven injuries related to the defect, along with an unspecified number of crashes.

FCA is likely to restore the BTSI function in the vehicles and recommended a regular use of the parking brake until the glitch is remedied.

Recall of Different Vehicle Models

News sources suggest that in November 2017, the Company recalled about 8,000 late-model Jeep SUVs to fix defective airbags. FCA recalled 709,837 sport-utility vehicles sold in North America with a potential braking defect stemming from a previous recall three years ago in October 2017. FCA recalled nearly 50,000 Chrysler Pacifica vehicles to fix defective seat belts in September 2017.

FCA US LLC Sales Report

On December 01, 2017, FCA US reported sales of 154,919 units, a 4% decrease compared to sales of 160,827 units in November 2016. In November 2017, retail sales of 129,539 units were up 2% compared to the same month in 2016, and represented 84% of total sales. In-line with FCA’s strategy to reduce sales to the daily rental segment, fleet sales of 25,380 units were down 25% y-o-y, as expected. The largest planned volume reduction in November fleet sales came from the Jeep® brand, which reduced its fleet sales number by 75% y-o-y. Fleet sales represented 16% of total FCA US November sales.

About Fiat Chrysler Automobiles N.V. (FCA)

Founded in 1899, FCA and its subsidiaries design, engineer, manufacture, distribute, and sell vehicles, components, and production systems. The Company operates through six segments, NAFTA, LATAM, APAC, EMEA, Maserati, and Components, and provides passenger cars, light trucks, and light commercial vehicles under various brand names. The Company operates worldwide through 162 manufacturing facilities, 87 research and development (R&D) centers, and dealers and distributors in more than 150 countries.

Stock Performance Snapshot

December 26, 2017 – At Tuesday’s closing bell, Fiat Chrysler Automobiles’ stock was slightly up 0.33%, ending the trading session at $18.50.

Volume traded for the day: 1.70 million shares.

Stock performance in the last month – up 5.11%; previous three-month period – up 6.02%; past twelve-month period – up 105.49%; and year-to-date – up 103.69%

After yesterday’s close, Fiat Chrysler Automobiles’ market cap was at $28.44 billion.

Price to Earnings (P/E) ratio was at 7.76.

The stock is part of the Consumer Goods sector, categorized under the Auto Manufacturers – Major industry.

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