Gov't hits Fiat Chrysler with record fine, 500k truck buyback - RT
According to terms of the settlement, made public Sunday by the US Department of Transportation, Fiat Chrysler will offer to buy back or repair 578,000 Dodge Ram pick-up trucks, made between 2008 and 2012, that have defective steering parts. The total sum of the fines the company will have to pay may exceed $105 million, greater than the $70 million fine previously levied against Honda Motor Co. over the failed recall of exploding airbags made by Takata Corp. In addition to the $70 million initial fine, Fiat Chrysler will have to spend at least $20 million to meet performance requirements detailed in the settlement, and pay another $15 million if the federally appointed recall monitor finds any further... Dodge Ram models included in the buyback are from the 1500 series, made between 2009 and 2012, the 2008 Ram Mega Cab 4x4, and the 4x4 models in series 2500, 3500, 4500 and 5500 made from 2008 to 2012. The settlement also encompasses the 2009... Source: www.rt.com
