Fiat Chrysler to face $105M penalty, oversight - The Detroit News

Washington — Fiat Chrysler Automobiles NV will face at least three years of oversight by an independent monitor into its auto safety efforts as part of a sweeping, record-setting $105 million settlement in the government’s investigation of nearly... The Italian-American automaker admitted it broke the law in failing to quickly repair vehicles in three separate recall campaigns and agreed to buy back as many as 578,000 older Ram pickups for steering issues after some owners said they have... The penalty includes a $70 million payment by Fiat Chrysler, plus $20 million that the automaker will spend on safety efforts and $15 million in additional penalties if the automaker fails to perform properly. The automaker can include rebates and recall incentives as part of the $20 million it must spend on safety over three years. The National Highway Traffic Administration could have fined Fiat Chrysler $35 million in each of 23 recalls under investigation if the agency had determined it failed to meet legal requirements in each of the campaigns. NHTSA said in the 23 recall campaigns Fiat Chrysler failed in a timely fashion to fix vehicles, notify owners of defects. Source: www.detroitnews.com