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US News UpdateBack

ChryslerLogoChrysler Renamed ‘FCA US LLC’

It’s the end of the road for the name Chrysler Group LLC. The Auburn Hills-based automaker Tuesday morning announced it has changed its company name to “FCA US LLC” to better align with its global parent company, Fiat Chrysler Automobiles NV, which officially adopted its new name in October before listing on the New York Stock Exchange. The name change does not affect the company’s headquarters location in Auburn Hills, nor its holdings, management team, board or brands. That means Chrysler CEO Sergio Marchionne will remain at the helm of the new FCA US LLC as well as the FCA parent company.

Source: The Detroit News

GMLogoGM Fund Finds 42 Deaths Eligible for Compensation

Eligible death claims rose by 4 last week

The number of claims found eligible for compensation for deaths caused by General Motors’ defective ignition switches rose to 42 last week, according to the latest report from lawyer Kenneth Feinberg. Feinberg and his staff also have determined seven people who suffered severe injuries and 51 who incurred injuries that were treated within 48 hours are eligible for some type of payment. The total number of claims submitted to the GM Ignition Compensation Fund rose by 64 to 2,326. Of those, 306 were ruled ineligible and 568 lacked sufficient evidence., 907 lacked any documentation and 445 are under review. Feinberg has set a deadline of Jan. 31 for claims to be submitted.

Source: Detroit Free Press

IHSU.S. Market Has Never Been More Competitive, IHS Says

The battle for market share among the largest eight automakers in the U.S. has never been greater as the range between them continues to narrow, a report from IHS Automotive said. General Motors and Ford Motor Co. have continued to occupy the top two spots over the last 14 years, but their lead has narrowed significantly as Toyota moved into the No. 3 spot ahead of Chrysler, now called FCA US. Using registration data, IHS said GM’s market share since 2000 has fallen from 28.2 percent to 17.6 percent through October of this year, while Ford has fallen from 24.1 percent to 14.7 percent. Toyota has risen from 9.3 percent to 14.5 percent while FCA, known as DaimlerChrysler in 2000, went from 15.7 percent down to 12.7 percent. But with more major players competing in the market, the gap between GM and the No. 8 automaker — currently Volkswagen — has declined from 26 percentage points to 14 points as of October.

Source: Automotive News

Posted by Sue Robinson on 19/12/2014