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Inside this issue
NHTSA Could Tap Unexercised Authority to Speed Takata Recalls
Nissan Expands North America Hood Latch Recall to 878,000 Altima Sedans
Fiat Chrysler CEO Sees Compensation Jump 45% in 2014
VW Plans $1 Billion Investment in Mexico to Support Tiguan Output, Report Says
Ford to Limit GT Production to 250 a Year
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Top Stories
NHTSA Could Tap Unexercised Authority to Speed Takata Recalls

U.S. auto safety regulators are considering unprecedented steps to speed up the replacement of potentially deadly Takata Corp air bags in millions of cars that remain on American roads despite massive recalls initiated by automakers. In a letter dated March 3, National Highway Traffic Safety Administration chief Mark Rosekind told Senator Bill Nelson that regulators had the authority to increase supply of replacement parts by requiring more manufacturers to produce them. If the NHTSA decides to exercise this right under the National Traffic and Motor Safety Act it would mark the first time the agency has done so since it was granted such authority in 2000.
Source: Reuters
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Nissan Expands North America Hood Latch Recall to 878,000 Altima Sedans

Nissan Motor Co expanded the North American recall of its top-selling Altima sedan to about 878,000 vehicles because a secondary hood latch may fail and cause the hood to fly up while the car is in motion, according to a company filing with U.S. safety regulators. A secondary latch is meant to keep the hood down if the primary latch is not engaged. But Nissan said that in model years 2013 to 2015 Altima sedans made from March 6, 2012 to Dec. 31, 2014, the secondary latch may not hold. Nissan has not yet found the root cause of the problem or how to fix it, and cannot definitely say whether the recall in North America will have to be expanded again.
Source: Reuters
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Fiat Chrysler CEO Sees Compensation Jump 45% in 2014

Fiat Chrysler CEO Sergio Marchionne earned $7.24 million during the automaker's year of transformation.

Fiat Chrysler CEO Sergio Marchionne earned about $7.24 million in 2014, up about 45% from his total compensation a year earlier as he completed the transformation of two automakers into a single, global automaker. Marchionne's compensation included an annual salary of about $2.76 million, a $4.41-million annual bonus and other compensation valued at about $122,000, according to Thursday's exchange rates of euros to dollars. In 2013, Marchionne earned almost $5 million for his work as CEO of Fiat. He does not earn a separate salary for running FCA US, the company previously known as Chrysler. In 2014, Marchionne led Fiat and Chrysler through a complete corporate transformation as he finally brought the two automakers together.
Source: Detroit Free Press
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VW Plans $1 Billion Investment in Mexico to Support Tiguan Output, Report Says

Volkswagen AG will unveil plans next week to invest around $1 billion in Mexico to expand its Puebla assembly plant, a person familiar with the matter said on Thursday. The investment, aimed at supporting production of the Tiguan compact crossover, is due to be unveiled on Monday and is expected to generate about 1,900 jobs, the person said. As of December, total investment in the auto sector in Mexico had reached $19 billion under President Enrique Pena Nieto, who took office two years earlier, the government says.
Source: Reuters
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Ford to Limit GT Production to 250 a Year


Photo Credit: The Detroit News

Ford Motor Co. will limit production of the upcoming Ford GT supercar to 250 a year and will price the mid-engine car competitively with the Lamborghini Aventador. The Dearborn automaker indicated this week at the Geneva International Motor Show that it will price the car competitively with the Aventador, which starts around $400,000. Ford representatives in Geneva told reporters the price would be close to the Aventador.
Source: The Detroit News
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Quotable

"With such a large number of affected vehicles, production of replacement air bags must be increased but without compromising safety."

   
-- NHTSA Chief Mark Rosekind, commenting on the agency considering ways to speed up the replacement of airbags in the Takata recall, Reuters, March 5

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