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It was expected to be a bad quarter for General Motors. It ended up being abysmal.

GM reported that July auto sales crashed by a whopping 15%, nearly double Wall Street's already depressed expectations of a 8% drop, and with GM mothballing production across the country to catch up with lagging demand, it still sold only 226,107 vehicles as a result of double digits drops in Chevy, Build and Cadillac Sales of 15.3%, -30.5% and -21.7%, respectively. The only "good" performer was GMC, which dropped by "only" 7.3% Y/Y.

A day after the EPA announced their probe of Fiat Chrysler's alleged "cheating" over diesel emissions tests, the company now faces criminal charges as the US department of Justice has joined the probe.

As Bloomberg reports, Fiat Chrysler is now also under investigation by the U.S. Justice Department over its alleged failure to disclose software that violated emissions standards, according to people familiar with the matter, another legal hurdle for a company already under criminal scrutiny for its sales practices.

Suddenly the coolest thing in corporate America is announcing major capital investments in the US while adding thousands of American jobs, in other words the opposite of the globalization trend of the past 30 years, in yet other words, doing precisely what Donald Trump demands. The latest to jump on the bandwagon is none other than Fiat Chrysler, the Italian carmaking giant which ironically acquired US automotive icon Chrysler's assets after just a 42 day stay in bankruptcy during the financial crisis.