Fiat Chrysler settlement with gov't could prove costly - Chicago Daily Herald
FILE - This July 13, 2011, file photo shows the Ram logo on a Ram pickup truck at a dealership in Hillsboro, Ore. Fiat Chrysler will buy back about 300,000 Ram pickup trucks in the biggest such action in U. S. history as part of a deal with U. S. safety regulators to settle legal problems in about two-dozen recalls, two people briefed on the matter say. DETROIT -- Fiat Chrysler could be required to lay out billions 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 two dozen... The Italian-American automaker must offer to buy back 500,000 Ram pickup trucks and other vehicles in the biggest such action in U. S. history. It must also either allow owners of more than a million older Jeeps with vulnerable rear-mounted gas tanks to trade them in at above market value or cover the cost of a repair. Even so, the settlement leaves out about 1. 7 million owners of Rams and Jeeps whose vehicles potentially have the same problem as those covered. What can those people do. The Ram pickups, which are the company's top-selling vehicle, have defective steering parts that can cause drivers to lose control. Source: www.dailyherald.com
