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US regulators fine Fiat Chrysler $105mn for recall failures

  • US regulators have slapped a fine of $105 million on Fiat Chrysler for its recall failures, setting a new record for such fines. The American-Italian firm will offer to buy back up to 1.5 million vehicles, under the agreement reached with the US National Highway Traffic Safety Administration (NHTSA).

    Also, Fiat Chrysler’s recall performance will be audited by an independent monitor for three years. The company’s last recall, announced a few days ago, was over software security glitches in a model. 

    Tagged as: US regulators, Fiat Chrysler, fine, recall failures, NHTSA, software security glitches, business news