NHTSA Says Fiat Chrysler to Pay $105 Million Fine, Buy Back Some Vehicles
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Fiat Chrysler Automobiles NV agreed to a record $105 million penalty following a U.S. Department of Transportation investigation into whether the company delayed acting on safety defects on light trucks and cars.
Fiat Chrysler also agreed to buy back more than a half-million vehicles -- mostly Ram pickups -- whose defective suspension parts could cause a loss of control, the U.S. National Highway Traffic Safety Administration said in a statement Sunday. Owners will be able to trade in certain Jeeps for above-market value, and the company must hire an independent monitor approved by NHTSA.