US regulators slap record USD 105 million fine on Fiat Chrysler

Regulators in the United States have imposed a record fine of USD 105 million on Fiat Chrysler over recall failures.

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Reports quoted the National Highway Traffic Safety Administration, as saying that Fiat Chrysler will also offer to buy back as many as 1.5 million vehicles, and that an independent monitor will audit the US-Italian company's recall performance for three years.

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The firm had earlier announced another recall over software faults in one of its models.

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The USD 105 million fine overtakes the NHTSA's previous fine record of USD 70 million on Japanese car maker Honda in January this year.

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The NHTSA said in a statement that Fiat Chrysler has admitted to committing violations in three areas -- effective and timely recall remedies, notification to vehicle owners and dealers and notifications to NHTSA.

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The recalled vehicles include one million Jeep vehicles, the Dodge Ram and the Dakota and Chrysler Aspen trucks.