An impressive sales history of Ram pickups and Jeeps could be a huge liability in recalls or compliance matters.
The Securities and Exchange Commission says that Fiat Chrysler Automobiles N.V., now a London-based public company that sells vehicles through its Michigan-based subsidiary, agreed to settle charges that it made misleading disclosures about an internal audit of its diesel emissions control systems.
The SEC’s order found that in February 2016, FCA represented in both a press release and an annual report that it conducted an internal audit which confirmed that FCA’s vehicles complied with environmental regulations concerning emissions.
FCA’s statements did not sufficiently disclose the limited scope of its internal audit, which focused only on finding a specific type of defeat device, or that the audit was not a comprehensive review of FCA’s compliance with U.S. emissions regulations.
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GM Adding $71 Million at Two Ohio Parts Plants
Toledo Transmission – GM needs 8-speed transmissions to meet fuel economy regulations.
General Motors plans to invest $71 million into two Ohio manufacturing plants, including $39 million at its Toledo transmission plant and $32 million at its Defiance casting plant. Work will begin immediately at the two locations.
These investments in what is increasingly the no growth auto business norm will enable GM to retain 240 U.S. manufacturing jobs. The Toledo investment will be used to upgrade and enhance the production of GM’s eight-speed rear-wheel-drive transmission – important for its pickup truck sales. The Defiance investment will be used to prepare the facility for future engine casting components work.
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