In an "an unlikely sequence of events", automatic acceleration could occur simultaneously with an electrical network short-circuit and could prevent a driver from being able to cancel cruise control, according to the company. FCA said it has no reports of crashes or injuries. "Once you are stopped, use the shifter and put the vehicle into Park", which will disengage cruise control. Fiat Chrysler also said the vehicle could be stopped by shifting into neutral and braking. The recall covers 14 Jeep, Ram, Chrysler and Dodge models built between 2014 and 2018. "It was still running at an engine speed to support 70 miles per hour and fighting the brakes". In the event that cruise control can not be disengaged while driving, owners should firmly and steadily apply the brakes and shift the transmission to Neutral, placing the vehicle in Park once it has stopped.
Fiat Chrysler has said it will alert affected customers starting next week, and that the problem is fixable with a software update.
JPMorgan Chase & Co. set a €25.00 ($29.76) price objective on shares of Fiat Chrysler Automobiles and gave the stock a buy rating in a report on Monday, April 23rd. How about the gas-tank recall of the Jeep brand and the million-plus-vehicle recalls announced every now and then by the Ford Motor Company?
The list of affected models includes the following: Chrysler 200, Chrysler 300, Chrysler Pacifica, Dodge Charger, Dodge Challenger, Dodge Journey, Dodge Durango, Jeep Cherokee, Jeep Grand Cherokee and Jeep Wrangler, as well as the RAM 1500, 2500 and 3500, and the 3500, 4500 and 5500 cabin-chassis variants.
The problem was found in testing of the vehicles' computer network. Some markets outside the United States, including Canada and Mexico, are also affected, but the total number of vehicles involved globally is not known.
Fiat Chrysler will begin notifying customers as early as next week.
Owners with questions can call their dealers or Fiat Chrysler at 866-220-6747.
In 2015, Fiat Chrysler booked a 602 million-euro ($705 million) after-tax charge, mainly for estimated future recall costs.