Chrysler Group

Chrysler Group, the U.S. automaker run by Fiat, said it would accept product liability claims on Chrysler vehicles made before the company exited bankruptcy June 10 and those involved in accidents on or after that date. Chrysler Group announced its changed policy on liability claims in a letter sent to members of Congress, the company said. Chrysler Group purchased most of the assets of the old Chrysler company, now called Old Carco, when it emerged from bankruptcy. Initially, as part of the U.S. Bankruptcy Court's approval of the purchase, Chrysler Group agreed to assume liability only for cars sold by the new company.

Chrysler Group reported its third consecutive quarterly profit and logged its best financial performance in more than a decade. Chrysler said it posted net income of $473 million for the first quarter of 2012, up more than 300% from $116 million a year earlier. The company said the gains were driven primarily by a 40% increase in U.S. retail sales. It was the company's highest quarterly profit since it emerged from bankruptcy in 2009. "Another positive quarter - built on sales gains that have surpassed the industry average - is affirmation that the Chrysler team is maintaining its focus," said Sergio Marchionne, who is chief executive of Chrysler and Italian automaker Fiat.

Chrysler Group, like rival Ford Motor Co., said it would reduce North American production of large pickups and sport utility vehicles in the fourth quarter. Most cuts will be made on the Dodge Durango SUV and Dodge Ram pickup, Chief Executive Tom LaSorda said. He would not provide specifics but said the reductions would not be as large as production cuts of 65,000 to 75,000 vehicles it was making in the current quarter. The U.S. arm of DaimlerChrysler said U.S.

Chrysler Group reported its third consecutive quarterly profit and logged its best financial performance in more than a decade, a turbulent period of changing owners with varied business strategies for the Detroit automaker. Chrysler said it posted net income of $473 million for the first quarter of 2012, up more than 300% from $116 million a year ago. The company said the gains were  driven primarily by a 40%  increase in U.S. retail sales. It was the company's highest quarterly profit since it emerged from bankruptcy in 2009.

DaimlerChrysler might sell off the Chrysler Group's aviation unit or some of its component plants in further restructuring moves this year to help pull the company out of its sea of red ink, Chief Executive Dieter Zetsche said Monday. Such cuts would be beyond the dramatic announcement by the troubled auto maker three weeks ago that Chrysler would eliminate 26,000 jobs, or 20% of its work force, and shutter six factories while significantly reducing production at seven others.

Lest you worry that auto shows were only focusing on the latest lean and green offerings from automakers, Chrysler Group used the 2012 New York International Auto Show to unveil the all-new SRT Viper. Although it's no longer under the Dodge nameplate and instead falls under the SRT brand responsible for performance variants of several Chrysler products, this 2013 Viper picks right up where its predecessor left off two years ago. It's powered by an all-aluminum, 8.4-liter V-10 that produces 640 horsepower and 600 pound-feet of torque.

Ford Motor Co. and Chrysler Group made financial headway in a sluggish economy in the second quarter, increasing sales and slashing debt. Ford sales rose 13% to $35.5 billion, although profits fell 8% to $2.4 billion as the Dearborn, Mich., automaker spent more money on materials such as steel and on designing and building new vehicles. Sales jumped 30% for Chrysler but losses widened to $370 million as the automaker repaid U.S. and Canadian government loans taken out during the financial crisis.

Toyota Motor Corp. plans to recall about 700,000 vehicles because of a variety of safety issues. Chrysler Group also announced a big recall. Toyota said it will recall 495,000 Tacoma trucks from the 2005 to 2009 model years to replace the steering wheel spiral cable assembly. The automaker has detected friction in the cable assembly that can disconnect the driver's airbag, preventing deployment in a crash. Additionally, Toyota will recall 2009 Camry sedans and 2009 to 2011 Venza vehicles to replace the stop lamp switch.

The speed with which Chrysler Group recalled 25,000 Dodge Caliber and Jeep Compass vehicles demonstrated how wary automakers have become of repeating the public relations debacle experienced by Toyota Motor Corp. over a series of large recalls and quality issues, analysts said. The recall, announced Friday, of the 2007 model-year vehicles follows a National Highway Traffic Safety Administration probe into problems that surfaced in late April after federal safety officials received five complaints of binding or sticky gas pedals.

They look like souped-up golf carts and are often seen as an environmentally friendly way to get around the neighborhood or go grocery shopping. But they could also be death traps, according to a prominent safety watchdog group. So-called low-speed or neighborhood electric vehicles made by Chrysler Group and another manufacturer badly failed a series of crash tests by the Insurance Institute for Highway Safety, which on Thursday is planning to call for greater federal safety oversight.

Lest you worry that auto shows were only focusing on the latest lean and green offerings from automakers, Chrysler Group used the 2012 New York International Auto Show to unveil the all-new SRT Viper. Although it's no longer under the Dodge nameplate and instead falls under the SRT brand responsible for performance variants of several Chrysler products, this 2013 Viper picks right up where its predecessor left off two years ago. It's powered by an all-aluminum, 8.4-liter V-10 that produces 640 horsepower and 600 pound-feet of torque.

Toyota Motor Corp. plans to recall about 700,000 vehicles because of a variety of safety issues. Chrysler Group also announced a big recall. Toyota said it will recall 495,000 Tacoma trucks from the 2005 to 2009 model years to replace the steering wheel spiral cable assembly. The automaker has detected friction in the cable assembly that can disconnect the driver's airbag, preventing deployment in a crash. Additionally, Toyota will recall 2009 Camry sedans and 2009 to 2011 Venza vehicles to replace the stop lamp switch.

If you are in the market for a late-model used car, look for Japanese-built vehicles, be selective of American brands, and buy European with caution. That's the message of the 2012 vehicle dependability study from research firm J.D. Power & Associates, which looked at the reliability of autos sold during the 2009 model year. Cars built in Japan were the most likely to lead their segments. Ford Motor Co. vehicles also did well. But anything built by Chrysler Group was at the bottom of the ratings, and of the European cars, only Mercedes-Benz scored above average.

Chrysler Group said Thursday that it swung to a profit in the third quarter. The company, which is gradually combining its operations with those of majority shareholder Fiat, the Italian automaker, said it had net income of $212 million in the third quarter, contrasted with a loss of $84 million in the same period a year earlier. "Chrysler is outpacing the industry this year with sales up 26.1% third quarter to third quarter and 23.1% for the year," said Michelle Krebs, an analyst with auto information company Edmunds.com.

Ford Motor Co. and Chrysler Group made financial headway in a sluggish economy in the second quarter, increasing sales and slashing debt. Ford sales rose 13% to $35.5 billion, although profits fell 8% to $2.4 billion as the Dearborn, Mich., automaker spent more money on materials such as steel and on designing and building new vehicles. Sales jumped 30% for Chrysler but losses widened to $370 million as the automaker repaid U.S. and Canadian government loans taken out during the financial crisis.

The Treasury Department sold its remaining stake in Chrysler Group, ending its role in the Detroit automaker's bailout that left taxpayers with a $1.3-billion loss. Italian automaker Fiat purchased the U.S. government's 6% stake in Chrysler for $560 million on Thursday, formally concluding the $12.5-billion bailout in 2008 and 2009, the Treasury Department announced. Including Chrysler's payment of loans from the Troubled Asset Relief Program, or TARP, the government received $11.2 billion of the money back.

If you are in the market for a late-model used car, look for Japanese-built vehicles, be selective of American brands, and buy European with caution. That's the message of the 2012 vehicle dependability study from research firm J.D. Power & Associates, which looked at the reliability of autos sold during the 2009 model year. Cars built in Japan were the most likely to lead their segments. Ford Motor Co. vehicles also did well. But anything built by Chrysler Group was at the bottom of the ratings, and of the European cars, only Mercedes-Benz scored above average.

Chrysler Group said it would devote about 25% of its vehicle production to ethanol-ready models in coming years in response to higher gasoline prices. Chrysler Group President Tom LaSorda said the carmaker expected to sell about 250,000 flex-fuel vehicles next year and half a million by 2008. Flex-fuel vehicles can run on either gasoline or an ethanol-blended fuel.

Chrysler Group reported its first quarterly profit since emerging from bankruptcy nearly two years ago, helped by a revamped lineup of cars and trucks as well as higher vehicle prices. Chrysler's first-quarter net income came to $116 million, compared with a loss of $197 million a year earlier, as revenue shot up 35% to $13.1 billion. The Auburn Hills, Mich., company reported an operating profit of $477 million in the first quarter, compared with $143 million a year earlier.

Toyota Motor Corp. will recall about 22,000 vehicles because a tire-pressure monitoring system might fail to notify drivers of a flat or deflated tire. The recall affects Toyota Sequoia, FJ Cruiser, Land Cruiser, Tacoma and Tundra vehicles from the 2008 to 2011 model years. Toyota has issued recalls of more than 13 million vehicles since September 2009 in the U.S. alone, including the recall of more than 2 million vehicles to correct problems with floor mats and other issues that could cause unintended acceleration.