Fiat Chrysler settlement with government could prove costly - mySanAntonio.com (blog)
Fiat Chrysler faces a record civil penalty of up to $105 million and has to buy back certain Ram pickup trucks and Dodge and Chrysler SUVs and older Jeeps as part of a larger settlement between the government and the automaker over allegations of... Besides the civil penalty, Fiat Chrysler agreed to an independent recall monitor and strict federal oversight. DETROIT — Fiat Chrysler could be required to lay out hundreds of millions of dollars to get potentially defective Ram pickups and older Jeeps off the road under a deal with safety regulators to settle claims that the automaker mishandled nearly... The National Highway Traffic Safety Administration is requiring the company to offer to buy back certain Ram pickup trucks and Dodge and Chrysler SUVs with defective steering parts that can cause drivers to lose control. FCA’s fine includes $70 million in penalties, at least $20 million to meet performance requirements and $15 million if an independent recall monitor finds any further violations. Both the Jeep and Ram measures are part of a larger settlement between the government and the automaker over allegations of misconduct in 23 recalls covering more than 11 million vehicles. Source: www.mysanantonio.com
