Fiat Chrysler Hit With $105 Million Fine (NYSE:FCAU) - Dispatch Times
Federal regulators are fining Fiat Chrysler $105 million for failing to acknowledge and address safety defects in a timely fashion. And now, the Feds are making FCA pay for it. Fiat Chrysler Automobiles (FCA) has accepted the largest civil penalty ever imposed by the US National Highway Traffic Safety Administration (NHTSA ) and will offer to buy back hundreds of thousands of... Transportation Department officials said Monday that Fiat Chrysler is paying $70 million in fines, which is a combination of three violations, plus another $20 million on performance improvements. 2009 through 2011 Chrysler Aspen and Dodge Durango SUVs and Dodge Dakota pickups are also part of the NHTSA order, which includes record civil fines of $105 million levied against Fiat Chrysler. Fiat Chrysler has agreed to buy back up to half a million Dodge Ram pickup trucks after some repairs that were performed as a result of recalls proved unsuccessful. In a separate announcement on Saturday, Fiat Chrysler said it was recalling 667,406 Ram pickup trucks in the U. S. and another 153,011 of the vehicles in Canada from the 2013 to 2015 model years to deal with an issue relating to airbag deployment. Source: www.dispatchtimes.com
