investorschatroom.com

Finance

Fiat Chrysler warns millions of owners: Don't use the cruise

Share
Ram logo at a dealership in Springfield Ill. Fiat Chrysler is recalling 4.8 million vehicles in the U.S. because in rare circumstances drivers may not be able to turn off the cruise control

Until then, FCA is advising owners to stop using cruise control until the software update has been performed. It should also be possible to shift the vehicle to neutral.

The company's USA shares extended their decline in early trading, falling as much as 3.9 percent, and were down 2.5 percent as of 9:25 a.m.in NY.

When a vehicle is traveling uphill with cruise control enabled, the system automatically accelerators to maintain the speed that has been set. The system would then need to increase the speed of the vehicle at the same time there's a short-circuit in a "specific electrical network".

Though there are no known incidents or injuries so far, the company took the pre-emptive step amid concerns that vehicles are not slowing automatically when in cruise control mode.

The recall involves a group of gasoline-powered vehicles with automatic transmissions from various model years built from 2014 through the 2019 model year. Also covered are the 2015-2017 Chrysler 200, the 2014-2018 Chrysler 300, the 2017 and 2018 Chrysler Pacifica minivan.

Some markets outside the United States and Canada are also recalling certain Fiat Fremont models.

Packers unlikely to sign Dez Bryant
According to Cowboys great Jason Witten , Bryant could well end up with the Green Bay Packers before the start of the season. Dez Bryant most infamous catch in his entire career was actually a non-catch that has been argued for years now.

Trump will be worm food, says Iran's supreme leader
EU Commission President Jean-Claude Juncker said in a speech to a Belgian regional parliament that Trump's decision shows the U.S. Former Shell Oil President John Hofmeister on the potential impact of pulling out of the Iran nuclear deal on the oil market.

Karnataka Assembly elections predictions: When and where to watch exit polls
"We have come a long way from being the most corrupt state in 2010 to become the investment capital of India by 2018", he said. Manmohan Singh knew the art of bathing with a raincoat on, Prime Minister Narendra Modi remarked in Parliament past year .

"However, if this sequence of events were to occur, cruise-control acceleration can be overpowered by the vehicle's brakes", FCA points out.

"Notwithstanding the extraordinary circumstances that must exist before a customer would experience a problem, we are taking this action because we are fully committed to vehicle safety", said Mark Chernoby, the company's head of vehicle safety and regulatory compliance for North America.

Fiat says a "widespread network" of dealers are prepared to help. The fix will, unsurprisingly, be installed free of charge, and the automaker will begin alerting those customers affected from next week. The recalled vehicles have collectively been driven more than 200 billion miles.

Fiat Chrysler was under fire in 2015, when USA regulators issued it $175 million in penalties because of safety lapses.

A auto company is recalling almost 5 million vehicles because of a safety issue. It agreed to a three-year consent agreement and monitoring by former Transportation Secretary Rodney Slater. The company has not received reports of related crashes or injuries, according to the AP.

Fiat Chrysler recall: Are you at risk?

Share