26,000 Vehicle Recall – Fiat Chrysler Jeep SUVs and Vans
Following the very public news of a recall possibly being responsible for the death of actor Anton Yelchin, automotive manufacturer Fiat Chrysler Automobiles faces another large, and potentially hazardous, recall effecting over 26,000 of its most popular vehicles.
The transmission pumps installed in model-year 2015-2016 Dodge Journey SUVs, Grand Caravan minivans, and Chrysler Town & Country minivans have been found to be faulty. This recall also impacts 2016 Ram ProMaster vans. The pumps do not meet required specifications which can lead to the loss of propulsion, significantly increasing the likelihood of a crash.
If you own one of these vehicles, contact your local dealer immediately to schedule a repair. The dealership will replace the transmission pump free of charge. You can find your local dealership by following this link.
Stockholders are obviously concerned over the recent “spree” of recalls plaguing the company. Fiat Chrysler Auto stock (NYSE: FCAU) ended 2015 at $13.99 after peaking at $16.22 in October. By January 8th the stock freefell to $7.99, reaching a low of $6.11 on February 12th. As of July 1st, FCAU was at $6.24. Italian automaker Fiat finalized the purchase of Chrysler on January 21, 2014 saving Chrysler from liquidation. The dominant shares were previously held by the United States Treasury as part of the historic automotive industry bailout which began in 2008.
The company moved up the scheduled gearshift repairs for Jeep Grand Cherokees following the death of Anton Yelchin. Company spokesman Eric Mayne said "our schedule was already accelerated" when asked if the update was related to the actor’s death. Fiat Chrysler has made no formal statement regarding the role the defect played in the accident.