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| US regulators slap record fine on Fiat Chrysler | |
| (about 1 hour later) | |
| US regulators have imposed a record fine of $105m (£67.6m) on Fiat Chrysler over recall failures. | US regulators have imposed a record fine of $105m (£67.6m) on Fiat Chrysler over recall failures. |
| Under the agreement with the National Highway Traffic Safety Administration, the automaker will also offer to buy back as many as 1.5 million vehicles. | Under the agreement with the National Highway Traffic Safety Administration, the automaker will also offer to buy back as many as 1.5 million vehicles. |
| An independent monitor will audit the US-Italian company's recall performance for three years. | An independent monitor will audit the US-Italian company's recall performance for three years. |
| The fine comes days after the firm announced another recall over software faults in one of its models. | The fine comes days after the firm announced another recall over software faults in one of its models. |
| The $105m fine sets a new record for the NHTSA, topping the previous record of $70m on Japanese car maker Honda in January this year. | The $105m fine sets a new record for the NHTSA, topping the previous record of $70m on Japanese car maker Honda in January this year. |
| The regulator accused the auto maker of problems with the execution of 23 vehicle safety recalls covering more than 11 million defective cars. | The regulator accused the auto maker of problems with the execution of 23 vehicle safety recalls covering more than 11 million defective cars. |
| 'Putting millions at risk' | 'Putting millions at risk' |
| In a statement, the NHTSA said that Fiat Chrysler had since admitted violations in three areas, "effective and timely recall remedies, notification to vehicle owners and dealers and notifications to NHTSA. | In a statement, the NHTSA said that Fiat Chrysler had since admitted violations in three areas, "effective and timely recall remedies, notification to vehicle owners and dealers and notifications to NHTSA. |
| "Fiat Chrysler's pattern of poor performance put millions of its customers, and the driving public, at risk," NHTSA administrator Mark Rosekind said. | |
| Under the agreement with the regulator, Fiat Chrysler agreed to give the owners of 1.5 million vehicles the option of selling their cars back to the manufacturer. | Under the agreement with the regulator, Fiat Chrysler agreed to give the owners of 1.5 million vehicles the option of selling their cars back to the manufacturer. |
| Included were one million Jeep vehicles with rear fuel tanks that can leak and catch fire in collisions. The fault has been linked to numerous fatal accidents. | Included were one million Jeep vehicles with rear fuel tanks that can leak and catch fire in collisions. The fault has been linked to numerous fatal accidents. |
| More than half a million of the cars subject to the buyback offer have faulty suspension parts that might cause a loss of control. | More than half a million of the cars subject to the buyback offer have faulty suspension parts that might cause a loss of control. |
| The recalled models covered by the agreement also include the Dodge Ram, as well as Dakota and Chrysler Aspen trucks with vehicles dating back as early as 2008. | The recalled models covered by the agreement also include the Dodge Ram, as well as Dakota and Chrysler Aspen trucks with vehicles dating back as early as 2008. |