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Penalty on Fiat Chrysler makes merger search tougher

Published Wed, Jul 29, 2015 · 09:50 PM

Munich

FIAT Chrysler Automobiles' search for a merger partner suffered a setback after the Italian-American carmaker was reprimanded with a record US$105 million penalty for its delayed handling of safety defects in the US.

On top of tarnishing the image of Fiat Chrysler cars and trucks, the conditions of the punishment, including an estimated US$7.5 billion to buy back defective vehicles, make it even less likely that another carmaker will take up Chief Executive Officer Sergio Marchionne's call to link up. The company said …

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Companies & Markets

Penalty on Fiat Chrysler makes merger search tougher

Transport & Logistics

GM CEO Barra compensation fell 4% in 2023 to US$27.8 million

Boeing reports first revenue drop in 7 quarters as deliveries decline

Volkswagen to keep China market share stable as price war rages

COE quota for May-July up 2.7%; passenger car categories rise despite less cut-and-fill

Tesla profits tumble but shares rise on new vehicle plan

Volvo Cars see good demand this year after higher Q1 unit sales

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