Fiat Chrysler settlement raises questions for dealers, drivers - Baltimore Sun
After years of massive recalls by the auto industry, car dealerships and drivers are now trying to navigate the nation's largest-ever vehicle buyback by Fiat Chrysler. The Italian-American automaker could be required to lay out hundreds of millions of dollars to get potentially defective Ram pickups, Dodge and Chrysler SUVs, and older Jeeps off the road under a deal with safety regulators to settle claims that... At least 30 Chrysler, Jeep and Dodge dealers in Maryland are preparing to field questions and concerns from customers, and for any fallout for their business. Under the deal with regulators that included a record civil fine of up to $105 million, Fiat Chrysler must offer to buy back certain Ram pickup trucks and Dodge and Chrysler SUVs with defective steering parts that can cause drivers to lose control. Fiat Chrysler Automobiles NV shares traded on the New York Stock Exchange dropped nearly 5 percent to close at $14. 41 Monday following the announcement of the deal. The settlement with the National Highway Traffic Safety Administration is the latest sign that auto safety regulators are taking a more aggressive approach toward companies that fail to disclose defects or don't. Source: www.baltimoresun.com
