Government Says Fiat Chrysler Must Offer to Buy Back 500000 Pickups - TheStreet.com
The Ram pickups, which are the company's top-selling vehicle, have defective steering parts that can cause drivers to lose control. Both the Jeep and Ram measures are part of a larger settlement between the government and the automaker over allegations of misconduct in 23 recalls covering more than 11 million vehicles. "Today's action holds Fiat Chrysler accountable for its past failures, pushes them to get unsafe vehicles repaired or off the roads and takes concrete steps to keep Americans safer going forward," Transportation Secretary Anthony Foxx said in the... In a separate statement, Fiat Chrysler said it accepted the consequences of the agreement "with renewed resolve to improve our handling of recalls and re-establish the trust our customers place in us. ". NHTSA has been involved in vehicle buybacks... Under the agreement, Fiat Chrysler has to buy back the Ram trucks for the purchase price, minus depreciation. According to Kelly Blue Book, a 2010 Dodge Ram 1500 - one of the smaller, less-expensive trucks involved in the recalls - could fetch $20,000 in a dealer trade-in, assuming the truck has. Source: www.thestreet.com
