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

FIAT CHRYSLER AUTOMOBILES (FCA)
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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 CEST
The Chrysler Pacifica is introduced as the 2017 Utility Vehicle of the Year during the North American International Auto Show in Detroit

WASHINGTON (Reuters) - 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 2018 115 B
EBIT 2018 7 969 M
Net income 2018 5 243 M
Finance 2018 3 173 M
Yield 2018 1,81%
P/E ratio 2018 5,01
P/E ratio 2019 4,74
EV / Sales 2018 0,20x
EV / Sales 2019 0,17x
Capitalization 25 693 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 20,4 €
Spread / Average Target 21%
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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