Traffic rules: Fiat Chrysler hit with $105m fine over safety lapses - Fx Report Daily
The settlement is the latest sign that auto safety regulators are taking a more aggressive approach toward companies that fail to disclose defects or don’t properly conduct a recall. Fiat Chrysler must offer to buy back from customers more than 500,000 Ram pickup trucks in the biggest such action in U. S. history as part of a costly deal with safety regulators to settle legal problems in about two-dozen recalls. The $105 million in fines sets a new standard for NHTSA’s dealings with auto manufacturers, eclipsing the previous record fine of $70 million imposed against Honda Motor Co. in January for failing to report death, injury and other claims. 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. The recalled vehicles covered by the agreement include Dodge Ram, Dakota and Chrysler Aspen trucks from model years as early as 2008. Besides the civil penalty, which was reported Saturday by The Associated Press, Fiat Chrysler agreed to an... At the July 2 hearing, NHTSA detailed a litany of shortfalls: failure to notify customers of recalls, delays in making and distributing repair parts and in some cases failing to come up with repairs that fix the problems. Source: forexreportdaily.com
