Chrysler gets largest fine in recall history - Bankrate.com
Email On the heels of a 1. 4 million car recall last week, Fiat Chrysler has been hit with a $105 million civil penalty for not issuing previous car recalls in a timely manner. On Sunday, Fiat Chrysler acknowledged that it violated the requirements of the Motor Vehicle Safety Act to repair cars with safety defects, agreeing to the civil penalty and to buy back some defective vehicles from owners. Owners of about 200,000 Ram vehicles who are affected by three recalls but have not yet had repairs completed will be eligible to have Chrysler buy back their vehicle at a price equal to the original purchase price, less a reasonable allowance for... NHTSA's consent order allows Fiat Chrysler to repair any vehicles purchased and to resell them once the repairs are complete. Owners of 1993-1998 Jeep Grand Cherokees (shown here) affected by recalls that have not yet had repairs completed can opt to not have their cars repaired and instead take a higher trade-in allowance to purchase another Fiat Chrysler product. The $105 million fine includes a $70 million cash penalty, at least $20 million to meet performance requirements of NHTSA's consent order, and an additional $15 million to be paid if the independent monitor discovers additional. Source: www.bankrate.com
