We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fiat (FCAU) Recalls Trucks & SUVs Over Windshield Wiper Issue
Read MoreHide Full Article
Auto recalls have been on the rise in recent years and the issue is unlikely to wane any time soon. Reportedly, Fiat Chrysler Automobiles N.V. has recalled more than 550,000 pickup trucks and SUVs worldwide, in order to fix the windshield wiper issue that tends to become loose and stop the wipers from functioning properly. However, the company has no reports of crashes or injuries yet.
Most recalled vehicles are in the United States and Canada. The company’s latest move is expected to affect certain 2019 and 2020 Ram 1500 pickups, 1500 Classic pickups and Jeep Compass SUVs.
Customers whose wipers do not clear the windshield or return to the rest position after being turned off will need to contact dealers. The dealers will tighten the wiper nuts to fix the problem.
Earlier this month, the company also recalled 365,000 vehicles in North America over rear-view camera issues. The affected vehicles cover certain Ram pickups and Chrysler Pacifica, Dodge Durango, Jeep Grand Cherokee, Jeep Wrangler, and Jeep Renegade vans and SUVs from the 2019 and 2020 model years.
Meanwhile, Fiat is also implementing a number of actions to boost the firm’s cash position in the face of the rising uncertainty due to the coronavirus crisis. It recently completed the syndication of a €3.5-billion credit facility with a group of 13 banks, including two of the original underwriting banks.
The facility, with an initial 12-month term, can be extended for another six months. It adds to Fiat's existing credit facilities worth €7.7 billion, including lines for €1.5 billion, which the company has started to draw down to deal with the downturn caused by coronavirus.
Zacks Rank & Stocks to Consider
Fiat currently carries a Zacks Rank #5 (Strong Sell).
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
Image: Bigstock
Fiat (FCAU) Recalls Trucks & SUVs Over Windshield Wiper Issue
Auto recalls have been on the rise in recent years and the issue is unlikely to wane any time soon. Reportedly, Fiat Chrysler Automobiles N.V. has recalled more than 550,000 pickup trucks and SUVs worldwide, in order to fix the windshield wiper issue that tends to become loose and stop the wipers from functioning properly. However, the company has no reports of crashes or injuries yet.
Most recalled vehicles are in the United States and Canada. The company’s latest move is expected to affect certain 2019 and 2020 Ram 1500 pickups, 1500 Classic pickups and Jeep Compass SUVs.
Customers whose wipers do not clear the windshield or return to the rest position after being turned off will need to contact dealers. The dealers will tighten the wiper nuts to fix the problem.
Earlier this month, the company also recalled 365,000 vehicles in North America over rear-view camera issues. The affected vehicles cover certain Ram pickups and Chrysler Pacifica, Dodge Durango, Jeep Grand Cherokee, Jeep Wrangler, and Jeep Renegade vans and SUVs from the 2019 and 2020 model years.
Meanwhile, Fiat is also implementing a number of actions to boost the firm’s cash position in the face of the rising uncertainty due to the coronavirus crisis. It recently completed the syndication of a €3.5-billion credit facility with a group of 13 banks, including two of the original underwriting banks.
The facility, with an initial 12-month term, can be extended for another six months. It adds to Fiat's existing credit facilities worth €7.7 billion, including lines for €1.5 billion, which the company has started to draw down to deal with the downturn caused by coronavirus.
Zacks Rank & Stocks to Consider
Fiat currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the same sector are Weichai Power Co. , Veoneer, Inc. and Denso Corp. (DNZOY - Free Report) , each carrying a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 (Buy) Rank stocks here.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>