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Chrysler announced a pair of recalls for the Dodge Dart, Durango, and Jeep Grand Cherokee. They're unrelated, as the Dart recall concerns windshield washer pumps, and the Durango and Grand Cherokee recall is for fuel rails. But the number of cars involved in both totals up to 88,888 cars, which is rather bizarre. Breaking down the coincidental number, we first have 34,633 2016 Dodge Durangos and Jeep Grand Cherokees recalled because fasteners on the intake manifold can come into contact with the fuel rail on some vehicles. This could lead to a fuel leak, and a subsequent fire ha...
Ford Motor Co., looking to bounce back from a 12% sales decline in October, has launched a Black Friday clearance sale several weeks before those sales typically take place. The automaker is offering $1,000 “Black Friday Cash” rebates on 2016 and 2017 model-year vehicles, in addition to other offers. For years, automakers didn’t aggressively participate in Black Friday merchandising, instead relying on year-end clearances. In addition to tagging its sale as a Black Friday promotion, Ford is also calling the sale a “year-end event.” A spate of Black Frid...
Despite the increased consumer discounts on so many popular models, U.S. auto sales fell approximately 6%. The seasonally adjusted annualized rate including an estimate of sales by No. 2 U.S. automaker Ford Motor Co showed sales at 17.9 million. General Motors Co October sales fell a less-than-forecast 1.7%. Sales of its smaller pickups and big SUVs surged while sedan sales fell. U.S. vice president of Nissan brand sales for Nissan Motor Co said favorable economic factors point to strong sales in the remainder of 2016. This year is likely to end slightly below last year's record...
General Motors, as well as other automakers, report October U.S. sales, amid concerns about waning demand, a potentially maxed-out auto-loan market and incentives' impacts on profits. However, Ford Motor will not be among them, as the automaker said that it will release results later this week due to a fire at its Dearborn, Michigan, headquarters that knocked out power to data systems. General Motors, meanwhile, was expected to report October sales of 246,512 autos, down 6.3% year over year. U.S. sales for Fiat Chrysler Automobiles are seen falling 10.6% to 178,2...
The low margins of Fiat Chrysler Automobiles and it high leverage position might have taken a toll on its stock in 2Q16. The company is now trading at massive YTD losses. FCAU reported adjusted EPS (earnings per share) of 0.45 euros in 2Q16, or $0.51, which is about 55% higher than its adjusted EPS in 2Q15. This figure was also higher than the analysts’ estimate of 0.39 euros, or $0.43. However, on the day of its 2Q16 earnings release, the company’s stock fell 4.3%. Stagnation in the company’s 2Q16 revenues and shipments, along with concerns over the growth potenti...
