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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles    FCA   NL0010877643

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Fiat Chrysler Automobiles : recalls 162,000 minivans over glitch that may cause stall

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01/12/2018 | 11:08pm CET
The Chrysler Pacifica is introduced as the 2017 Utility Vehicle of the Year during the North American International Auto Show in Detroit

Fiat Chrysler Automobiles NV said on Friday it was recalling more than 162,000 2017 Chrysler Pacifica minivans because a software glitch may cause the vehicles to stall.

The Italian-American automaker said one accident had potentially been linked to the defect. Under a rare set of conditions, a vehicle’s engine control module may incorrectly assess the engine’s operating status and cause it to stall, Fiat Chrysler said.

Dealers will update the engine control software, the company said, adding that most incidents associated with the glitch took place at low speeds or when the vehicles were starting up.

The Center for Auto Safety, a consumer advocacy group, petitioned the U.S. National Highway Traffic Safety Administration in November to investigate the issue after it said at least 50 owners had reported stalling in new Pacifica minivans. The agency asked Fiat Chrysler to answer questions about the stalling last month.

Fiat Chrysler said it had begun investigating the issue before the petition was filed.

The recall includes nearly 154,000 vehicles in the United States and more than 8,000 others around the world, but the company did not immediately say when the new software would be available.

Hybrid gas-electric versions of the minivans are not included in the recall.

(Reporting by David Shepardson; Editing by Tom Brown)

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Financials (€)
Sales 2017 113 B
EBIT 2017 7 235 M
Net income 2017 3 583 M
Debt 2017 3 216 M
Yield 2017 0,04%
P/E ratio 2017 8,35
P/E ratio 2018 6,95
EV / Sales 2017 0,29x
EV / Sales 2018 0,26x
Capitalization 30 109 M
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 24
Average target price 16,7 €
Spread / Average Target -15%
EPS Revisions
Managers
NameTitle
Sergio Marchionne Chief Executive Officer & Executive Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer CFO & COO-Systems & Castings
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
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