Chrysler Group LLC’s Jeep Grand Cherokees for 1993 to 2004 are being investigated for possible fuel-tank defects after 55 fire-related deaths in crashes, the National Highway Traffic Safety Administration said.
Like grunge rock and flannel, sport utility vehicles were one of the biggest fads of the 1990s. If you mumbled the lyrics to Nirvana’s “Smells Like Teen Spirit” while piloting a Ford Explorer in 1994, you were the zeitgeist.
On the day in May 2008 when Mark Tercek, a managing director at Goldman Sachs Group Inc., got a cell-phone call from a headhunter informing him that he’d likely gotten the job of running the Nature Conservancy, he was so excited that he backed his Jeep Grand Cherokee into a tree, shattering the back window. Anxious that gouging a tree might be a bad omen, he jumped out to see how bad it was. To his relief, he’d done far more damage to his vehicle than the tree.
Chrysler Group LLC, the automaker that topped its full-year operating profit forecast in the first half today, said it won’t increase its guidance until after the third quarter. Fiat SpA, which runs Chrysler, fell on the news.