$105M

Finweek English Edition - - IN BRIEF - SAFETY FINES

US reg­u­la­tors fined au­tomaker Fiat Chrysler a record $105m (R1.3bn) for fail­ing to com­plete 23 safety re­calls cov­er­ing more than 11m ve­hi­cles, ny­times.com re­ported. Fiat Chrysler will have to buy back up to 500 000 ve­hi­cles with faulty sus­pen­sions that can cause driv­ers to lose con­trol, while own­ers of more than 1m Jeeps with rear­mounted fuel tanks that are prone to catch­ing alight will be given the op­por­tu­nity to trade in their ve­hi­cles at above mar­ket value, it re­ported. The pre­vi­ous record was $70m (R879.6m) im­posed on Honda in Jan­uary for faulty airbags.

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