Fiat Chrysler to pay record fine - Business Spectator
Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report. Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website. Fiat Chrysler will pay a record $US90 million ($A123. 74 million) fine for lapses in recalls of its vehicles under a deal reached with US regulators. It will spend a further $US20 million on "consumer outreach activities and incentives to enhance certain recall completion rates" and will be required to pay an additional $US15 million if it fails to comply with the terms of the deal, it said in... The fine was to punish legal violations in recalls of 11 million vehicles, including older Jeep models with rear petrol tanks linked to numerous fatal fires, the Journal said. The NHTSA had accused the car maker of obstructing the work of regulators, of not alerting car owners to problems in a timely manner, and of carrying out insufficient repairs, the report said. The company on Friday announced recalls of 1. 4 million vehicles in the United States after hackers demonstrated they could remotely control a Jeep Cherokee while it was in operation. Source: www.businessspectator.com.au
