(Bloomberg) -- Of the 23 Fiat Chrysler recalls that U.S. regulators investigated, three were so dangerous that the government invoked its most potent power: requiring the company to buy back the vehicles.
Owners of hundreds of thousands of pickups and SUVs will be able to get rid of their trucks and get cash. In addition, owners of about 1 million older Jeeps with exposed fuel tanks could be able to trade them in for $1,000 above fair market value toward another Fiat Chrysler vehicle.
“Consumers are at the heart of this enforcement action,” U.S. Transportation Secretary Anthony Foxx said. “Automakers have a heavy responsibility to make sure their vehicles are safe.”
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