DETROIT - Fiat Chrysler must buy back over 500,000 vehicles in the largest recall in United States history. The company is also fined a record penalty of $105-million for not properly fixing cars in previous recalls.
The National Highway Traffic Safety Administration and Fiat-Chrysler reached a settlement over legal problems related to 24 recalls over Dodge Ram trucks and several Jeep models.
The buyback includes:
-2008 to 2012 Ram pick-ups
-2009 to 2011 models of the Dodge Dakota
-2009 version of the Dodge Durango.
-2002 to 2007 Jeep Liberty
- 1993 to 1998 Jeep Grand Cherokee.
The Dodge models have defective parts in the steering system, causing driver to lose control of the car.
The Jeep models included have rear-mounted gas tanks which can catch fire during an accident. There were 75 deaths reported from that problem.
Chrysler is required to buy back the affected models for the purchase price, minus deprecation. Owners can opt out of the buy back and get their vehicles fixed at the manufacturer's expense.