Fiat Chrysler settlement could cost hundreds of millions of dollars.

July 28, 2015

 

The National Highway Traffic Safety Administration is requiring Fiat Chrysler to buy back certain Dodge and Chrysler SUVs and Ram pickup trucks with defective steering parts that could cause drivers to lose control.

 

They are also being ordered to allow owners of over a million Jeeps with vulnerable rear-mounted gas tanks to trade them in for more than market value or give them $100 as a repair incentive.

 

The company also faces a civil penalty of up to $105 million. Altogether, the result could be hundreds of millions of dollars lost.

 

In total, more than 75 people have died believed to be a result of these combined issues. U.S. Transportation Secretary Anthony Foxx said, "Merely identifying defects is not enough. Manufacturers that fail in their duty to fix these defects will pay a price."

 

For more about this story, click here.

 

For a specific list of the recalls and vehicles affected, click here.

 

The law office of T. Verner Smith is offering a free consultation with any family that has already, or in the near future, has a loved one injured (or worse) due to a suspected Fiat/Chrysler vehicle issue. Contact us at our main office at (731) 423-1888.

 

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