NEW YORK, NY / ACCESSWIRE / June 16, 2017 / Fiat Chrysler announces another recall that sent shares down almost 2% on Thursday. This makes it the third recall in recent weeks. General Motors also had disappointing news as the Wall Street Journal reported that the automaker would be extending shutdowns at several plants for the next two months.

RDI Initiates Coverage on:

Fiat Chrysler Automobiles N.V.
https://ub.rdinvesting.com/news/?ticker=FCAU

General Motors Company
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Fiat Chrysler Automobiles N.V. closed down 1.93% on Thursday. Traders weren't happy to hear that the automaker is recalling around 300,000 of its Dodge Grand Caravan minivans. The recall came as a result of eight people suffering injuries when the airbags went off in the vans for no reason. According to the National Highway Traffic Safety Administration, it was faulty wiring that led to the airbags deploying unintentionally in 2011-2012 model year minivans. According to Fiat this faulty wiring caused the minivans to short circuit and unintentionally deployed the airbags on the driver's side. Owners of the specific cars involved in the recall will be contacted by Chrysler for a repair if necessary and it will be free of charge. The company also announced last week that it had recalled the Pacifica gas-electric hybrid minivans which were built with diodes because some of the minivans had stalled out. In May, 1.2 million Ram pickups were recalled after safety sensors malfunctioned and led to two injuries and even one death. All these recalls aren't sitting well with investors.

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General Motors Company's shares traded pretty flat in Thursday trading despite some disappointing news from the automaker. According to the Wall Street Journal, the automaker will be extending shutdowns at some of its factories this summer. The factories include the GM plant in Lordstown, Ohio, and the Fairfax plant in Kansas City. These two plants will be offline for up to five weeks this month and next month. The Journal cited union officials. A GM Spokesman commented in a statement that was sent to CNBC, "Shutdown periods vary by plant based on launch timing of new or refreshed models across the portfolio and our ongoing efforts to align production with market demand. Our practice is to inform our employees and suppliers of our production plans. We do not share them publicly, for competitive reasons."

Access RDI's General Motors Research Report at:
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Our Actionable Research on Fiat Chrysler Automobiles N.V. (NYSE: FCAU) and General Motors Company (NYSE: GM) can be downloaded free of charge at Research Driven Investing.

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