Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine

Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine

28.12.2015 News

Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fineRecently, foreign automobile corporations are increasingly exposed to multi-million dollar fines from regulators. The reason is negligence   of manufacturers who violate the road safety  legislation at the stage of cars’ production. Scandals accompanied by multi-million dollar fines recently occurred in companies BMW, Volkswagen, and Fiat Chrysler, which subjected the charges from the regulatory authorities for fraud in the financial statements.

The company Fiat Chrysler decided to take more responsibility  for doing business, and, therefore, recognized the defects in the cars before being subjected to other  charges by regulators. Recently, representatives of Fiat Chrysler announced that  570 thousand machines should be withdrawn, failure of which can cause a fire. It is mostly about big cars, jeeps and SUVs these are  Grand Cherokee, Dodge Durango, Compass and Patriot. The  cars were produced in 2011-2012, most of them sold in the United States, but nearly 85 thousand  cars have been implemented in other countries.

The lawyers  confirm that it was quite successful decision to withdraw the cars  , it saved the concern  from the multi-million dollar fines from the regulatory authorities, and greater damage.

The company Fiat was founded in 1989, it has been producing world famous cars such as – Fiat, Lancia, Alfa Romeo, Abarth, Ferrari and Maserati. In the past year, the company signed a merger agreement with the car company Chrysler, the completion of the unification process will occur in 2018.

The combined company Fiat Chrysler last year sold 4608000 vehicles worldwide, and due to this revenue the growth was 6%, and the total profit increased by 11% and amounted to 96.1 billion euros.

Source: www.wsj.com

Other articles

  • Radisson Hotel Group becomes world’s first hotel group to offer carbon negative meetings
    News

    Radisson Hotel Group becomes world’s first hotel group to offer carbon negative meetings

    Radisson Hotel Group is proud to be the world’s first hotel group to make all meetings and events across 400+ hotels in its EMEA portfolio carbon negative. For every event taking place at its participating hotels, Radisson Hotel Group will offset double the carbon footprint, to ensure that every meeting has a positive impact on […]

  • The price of oil broke a long-standing record
    News

    The price of oil broke a long-standing record

    During trading on Monday, October 11, the price of a barrel of Brent oil rose by 2% to $ 84.01. She reached this mark for the first time since October 2018. US WTI oil rose by $ 1.62 to $ 81.3 – the highest price since 2014, according to Reuters. It is noted that Brent […]

  • From 2023, multinational corporations must pay corporate tax at a rate of at least 15%
    News

    From 2023, multinational corporations must pay corporate tax at a rate of at least 15%

    The agreement on a single corporate tax rate of at least 15 percent was signed by 136 states, which account for more than 90 percent of world GDP. The agreement is aimed at combating tax evasion by international corporations. The initiative was also signed by countries that were initially opposed to tax reform, such as […]

  • The NBU has calculated “on hand” in the population up to $ 35 billion
    News

    The NBU has calculated “on hand” in the population up to $ 35 billion

    The savings of Ukrainian citizens outside the banking system are estimated at $ 30-35 billion. This estimate was given by the chairman of the National Bank Kyrylo Shevchenko during the Kyiv Economic Forum. There are different estimates of the “gray” economy. We in the National Bank believe that this is up to 30% of GDP. […]

  • The NBU has increased the purchase of currency on the interbank market 15 times
    News

    The NBU has increased the purchase of currency on the interbank market 15 times

    During the week, the National Bank of Ukraine bought $ 228 million on the interbank foreign exchange market. At the same time, the central bank did not sell currency on the interbank market. So the NBU continued to buy currency on the interbank market, the bank increased it compared to last week ($ 15 million) […]

  • Musk told when the first European Tesla will appear
    News

    Musk told when the first European Tesla will appear

    The new Tesla factory in Berlin may release the first electric cars next month. CEO Elon Musk stated this. Speaking at the plant, Musk said he hoped to get the green light to begin production in the coming weeks. The last consultation on public concern about the plant ends on October 14, after which the […]

  • Two other Chinese developers have problems paying on bonds
    News

    Two other Chinese developers have problems paying on bonds

    In China, two more developers are unable to repay their debts: Fantasia Holdings has been unable to repay bonds worth $ 205.7 million, and Sinic Holdings is uncertain about the repayment of $ 246 million in bonds, the BBC reports. The day before, trading in Evergrande shares was suspended on the eve of “an announcement […]

  • Telegram has 70 million new users amid Facebook failure
    News

    Telegram has 70 million new users amid Facebook failure

    Telegram Messenger registered more than 70 million new users against the background of a large-scale failure of the social network Facebook and its services. The founder of the messenger Pavlo Durov announced this in his Telegram-channel. “Telegram’s daily growth rate is an order of magnitude higher than normal, and in one day we have received […]

Read also

Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

The biggest publishing company Gannett conducts a large-scale reorganization of its brands

Big changes are planned in the US Gannett company which decided to coordinate the work of their local and national brands in a new group called USA TODAY NETWORK. On Thursday, December 3, 2015 American media company Gannett  announced the merger of its brands in the USA TODAY NETWORK group to improve the quality of […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Ukraine begins to fulfill a tank contract with Pakistan

State Enterprise Plant named after VO Malysheva begins to fulfill a new contract for the repair of T-80UD tanks, which was signed in February at the international arms exhibition IDEX-2 021 between Ukrspetsexport and Pakistan for a total of $ 85.6 million. This was reported by the press service of the company. “Currently, all the […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Oschadbank sued the Sberbank of Russia

Ukrainian state bank claims Sberbank of Russia in  violation of intellectual property rights. State Savings Bank of Ukraine has filed a lawsuit against Sberbank of Russia for copyright infringement.Oschadbank insists on the illegality renaming of Ukrainian “daughter” of the Sberbank of Russia in Sberbank and alleges a violation of their intellectual property rights. The suit […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Shares in the Chinese markets are falling rapidly after a brokerage scandal

Shares continue to fall in the Chinese stock market. Two major Chinese exchanges experienced a sharp decline in prices. One reason for this is the fact of fraud in the local exchange market. It will be recalled that, that the employees of the two major Chinese exchanges in the summer of 2015 are under investigation. […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Volkswagen is to invest $ 75 billion in “technology of the future”

German automaker Volkswagen will invest about 73 billion euros over the next five years in electrification, hybrid powertrains and digital technology, the company said in a statement following a meeting of the supervisory board. In particular, about 35 billion euros are planned to be spent on electric cars on battery power, about 11 billion – […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Amazon launches payment by scanning your palm in Whole Foods

Amazon announced on Wednesday the expansion of its Amazon One payment system at Whole Foods stores in Seattle. Amazon One technology was introduced by the company last September and, according to Amazon, it “makes the payment process easy and fast.” Unlike previous Amazon Go technology in stores of the same name, consumers do not need […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Nestle will invest $ 30 million in the disposal and recycling of plastic waste

This year the company Nestle has established a venture fund package for $ 260 million, but it is just a part of a wider initiative of $ 2.1 billion for abandonment of primary plastic. Two years ago, Nestle that will make all its packaging suitable for recycling or re-use and intends to reduce the use […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

DuPont will dismiss nearly 2,000 employees in a global merger with Dow Chemical

Recently, two major global corporations in the Chemistry industry DuPont and Dow Chemical signed a merger deal. After closing, the new company will be called DowDuPont, it will be headed by the current head of Dow Chemical – Andrew Liveris. A few days ago, DuPont told reporters about plans to hold a global reduction of […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Oschadbank signs the pact with EBRD for € 50 m

By the information of Interfax-Ukraine, the state  Oschadbank and the European Bank for Reconstruction and Development have signed the memorandum of the association about corporate management state bank support on the 25th of November 2016. The parties also have concluded the memorandum about supporting of 50 million euros due to a trade financing program. As […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Pfizer submits the application to the FDA for permission to use the emergency vaccine of COVID-19 in November

Shares of the largest US pharmaceutical company Pfizer, down to 3.14% since the beginning of the year, rose to 3.83% on Friday on good news about its vaccine against the COVID-19. Currently, the mTNA candidate vaccine of BNT162b1, developed by Pfizer in the partnership with the German company BioNTech, the mechanism of the action of […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Chinese and Ukrainian companies will build a wind farm

The Chinese company POWERCHINA and the Ukrainian company WindFarm have signed a contract for the joint construction of a wind farm in the Donetsk region. This was reported by the press service of WindFarm. “The cost of the project is at least $ 1 billion, which makes it the largest wind energy project in Ukraine,” […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Hundreds of thousands of airline workers could lose their jobs

Hundreds of thousands of workers could lose their jobs in the aviation sector if states do not provide the additional assistance. “In the absence of additional government measures to provide assistance and open borders, hundreds of thousands of airline jobs will disappear, ” – said the executive director of the International Air Transport Association (IATA) […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Antimonopoly Committee of Ukraine has fined “Gazprom” for a record sum of $ 85 billion UAH

Antimonopoly Committee of Ukraine has fined the Russian company “Gazprom” for 85 billion UAH  for abuse  of monopoly power. This information was announced by the head of department Yuriy Terentyev on his Facebook. He emphasized that the “Gazprom” is a monopolist in the market of transit of natural gas through main pipelines on the territory […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

The NBU explained the decision on the bank Arcade

Bank Arkada was declared insolvent due to a reduction in capital. The head of the National Bank Kyrylo Shevchenko spoke about the reasons for the bank’s withdrawal from the market on Wednesday, August 26. “The reason for withdrawing the bank from the market is to reduce the capital ratio to less than one third of […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

Bayer to invest $ 300 million in the creation of new businesses

In his new project, the pharmaceutical giant Bayer wants to unite the genome editing technology crispr with their experience in trying to develop new drugs. Bayer, in close cooperation with Crispr Therapeutics AG on the basis of new technologies will seek to establish modern medicines from hemophilia and heart disease of newborns. In a joint […]

Next
Fiat Chrysler is recalling 570 thousand machines to avoid multimillion-dollar fine
News

The Cabinet of Ministers has limited the salaries of members of Naftogaz’s supervisory board

The Cabinet of Ministers has set the maximum allowable amount of the basic annual fee for the services of a member of the Supervisory Board of NJSC Naftogaz of Ukraine for UAH 6.328 million (about $ 19 thousand per month at the current exchange rate). The government portal reported this. Thus, according to Resolution №503 […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com