$105 Million Is The Price Fiat Chrysler Will Pay For Its Screw Ups

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Last week a Jeep was hacked and now this.

This is a new record amount for a fine, and Fiat Chrysler is likely just going to have to deal with it and pay up, and then some. According to a report originally from The Wall Street Journal, the National Highway Transportation Traffic Safety Administration (NHTSA) is set to announce a $105 million fine against FCA due to "inadequate and lagging repairs, misleading and obstructing regulators; and failing to notify car owners of recalls in a timely manner" in regards to the recall of 11 million light vehicles.

This also includes two older Jeep models, the Grand Cherokee and Liberty, with rear fuel tanks that have caused some fatal fires. What's more, FCA will have to accept an independent safety monitor who will personally oversee the recalls and all other safety processes. The punishment doesn't end there. Under the terms of the deal, FCA will have to offer cash to encourage owners of older Jeeps with rear fuel tanks to get the proper repairs done. For a few of those cases, FCA will need to offer some owners additional cash on top of the value of their Jeep if they prefer to trade it in. If FCA fulfills certain conditions of the punishment, then it can recover some of the imposed fines.

Source Credits: autonews.com

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