#FCA to pay record $105M over recall failures
FCA to pay record $105M over recall failures 27 July 2015 In a consent order with the National Highway Traffic Safety Administration (NHTSA), Fiat Chrysler Automobiles has acknowledged violations of the Motor Vehicle Safety Act’s requirements to repair vehicles with safety defects and will submit to federal oversight, buy back some defective vehicles from owners, and pay up to $105 million in penalties and remediation—the largest such settlement yet imposed by the Department’s National Highway Traffic Safety Administration. The company must pay a $70-million cash penalty—equal to the record $70 million civil penalty the agency imposed on Honda in January. In addition, Fiat Chrysler must spend at least $20 million on meeting performance requirements included in the Consent Order. Another $15 million could come due if the independent monitor discovers additional violations o...