Penalty on Fiat Chrysler makes merger search tougher
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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 the settlement probably won't have a material impact on its financial results.
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