Default Fiat Chrysler slapped with record $105 million fine, will buy back 500,000 vehicles

[dead_man00124]

it can only be seen as good for consumers that this has come about

http://mashable.com/2015/07/26/fiat-...r-to-buy-back/

Fiat Chrysler will buy back from customers more than 500,000 Ram pickup trucks in the biggest such action in U.S. history as part of a costly deal with U.S. safety regulators to settle legal problems in about two-dozen recalls.

The trucks, which are the company's top-selling vehicle, have defective steering parts that can cause drivers to lose control, and some previous repairs have been unsuccessful. So to get them off the roads, Fiat Chrysler agreed to the buyback, according to the National Highway Traffic Safety Administration. Owners also have the option of getting them repaired, the agency said in documents released Sunday.

Also, owners of more than a million older Jeeps with vulnerable rear-mounted gas tanks will be able to trade in their vehicles for more than market value or be paid to get them repaired, the agency said in a statement.

The Jeeps' fuel tanks are behind the rear axle and have little to shield them in a rear crash. They can rupture and spill gasoline, setting the vehicles on fire. At least 75 people have died in crash-related fires, although Fiat Chrysler maintains they are as safe as comparable vehicles from the same era.

Both the Jeep and Ram measures are part of a larger settlement between the government and the automaker that includes a record $105 million fine and the appointment of an independent recall monitor.

[Yellow_Festiva]

Owch.

They have had a real bad year so far.

What will this cost them? How many hundreds of millions?

[dead_man00124]

depending on the car and age this could actually go into the magic 9 digit figure.

they are talking 500,000 Dodge Ram's and over a million older jeeps that had issues with fuel tank barriers.

EDIT: more info is needed but just based on using the base Ram 1500 at $25,660 entire price of 250,000 units is $6,415,000,000. thats only half of the 500,000 thats talked about and excluding the jeeps.

[blackf6]

Just bought a jeep.

[XG_Falcon]

Fiat just bought a whole bunch of Jeeps.

[Express]

[Stefan]

Umm what the hell is the jeep recall about? Nearly every car I've owned has the fuel tank behind the rear axle.

[dead_man00124]

Originally Posted by Stefan

Umm what the hell is the jeep recall about? Nearly every car I've owned has the fuel tank behind the rear axle.

in the US they need to have a shield between the fuel tank and the rear of the car.

[Danny]

Rear fuel tanks are sick bro

[Bluehoon]

Hard to believe they were bailed out of bankruptcy at the GFC crisis and still continue to operate in this manner...

[Stefan]

Originally Posted by dead_man00124

in the US they need to have a shield between the fuel tank and the rear of the car.

Well bugger me, why are we not seeing car exploding left right and centre.

[simon varley]

it was a series of rear impact fires with Crown Vics in the 90s that led to the shield being required

[mik]

Originally Posted by Danny

Rear fuel tanks are sick bro

image

yeah fooly siiick brooo !!!

[Express]

Originally Posted by Danny

Rear fuel tanks are sick bro

The exhaust is a bit of a pea shooter for a car posted on Mike’s Turbo World. In fact it’s even a bit small for a N/A V8 running any real horsepower.

[CoupeKing]

It would be safe to say that a certain few won't be invited to the Christmas party.

[Kieron]

Here's a report with more detail -
http://www.ibtimes.com/fiat-chrysler...y-back-2026048

$70mill fine
$20mill to improve safety efforts, which includes the buy back
then $15mill more if they don't get their **** into gear.

I would have thought the 70's Pinto fiasco would have go the manufactures to sort the rear tank issue out