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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat SpA    FIA   IT0001976403

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Fiat SpA : Chrysler recalls 127,350 Dodge Chargers, Chrysler 300s

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05/07/2012 | 10:45pm CEST

Chrysler Group is recalling some 127,350 current model Dodge Charger and Chrysler 300 vehicles in the United States and Canada due to potential problems in electrical stability control and anti-lock braking systems, the company and U.S. safety regulators said.

Chrysler, majority-owned by Fiat SpA, said it was not aware of any crashes, injuries or fires due to the issue.

The recall affects cars from the 2011-2012 model years and produced through December 20, 2011, according to a company filing with the U.S. National Highway Traffic Safety Administration.

A fuse in the power distribution center in the vehicles may overheat and cause loss of control, increasing the risk of a crash, the filing said.

Chrysler will fix the issue without charge. Recall notices will go out this month.

The problem first surfaced in testing of a vehicle used as a police car in Michigan, and Chrysler then checked for the same issue with consumer-driven cars, the filing said.

The maker of the affected system is Yazaki North America based in Canton, Michigan, near Detroit, Chrysler said. Earlier, the company had erroneously told federal regulators the supplier was Global Automotive Systems, which is part of Dura Automotive Systems.

The recall affects an estimated 119,072 cars in the United States and 8,274 in Canada.

(This version of the story has been corrected after the company clarified the name of supplier to Yazaki North America, next-to-last paragraph)

(Reporting by Bernie Woodall; Editing by Maureen Bavdek)

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Financials (€)
Sales 2016 112 684 M
EBIT 2016 5 420 M
Net income 2016 2 023 M
Debt 2016 6 064 M
Yield 2016 0,28%
P/E ratio 2016 4,06
P/E ratio 2017 3,37
EV / Sales 2016 0,12x
EV / Sales 2017 0,10x
Capitalization 7 401 M
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Mean consensus HOLD
Number of Analysts 27
Average target price 7,76 €
Spread / Average Target 35%
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Managers
NameTitle
Sergio Marchionne Chief Executive Officer & Executive Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer, COO-Systems & Casting
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
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