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More problems for Fiat Chrysler Automobiles

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
More than 1.2 million vehicles recalled over a defective airbag.

Bad news seems to follow the Italian -American automaker, Fiat Chrysler Automobiles. Earlier this month, the company looked for ways to deal with the $6.2 billion special dividends payment and some of its employees’ rage. Now, it joins the companies’ group that recalled some of its cars, such as Volvo.

On Friday, FCA recalled more than 1.2 vehicles globally, with over 900,000 in the United States only.  The recall focuses on the models produced in 2007-2011. An investigation conducted by the company showed that the vehicles have some clips that might loosen and fall over time. Consequently, the airbag from the driver-side can act as projectiles. 

According to current news, the loosen clips have caused 14 potential injuries. However, the FCA investigation showed that the wounds did not affect the front and rear-seat passengers. Still, the company decided not to use such clips anymore. 

Starting from August 2020, owners of the affected vehicles will receive a notice with the instructions that they have to follow to repair the defect. Until then, drivers are not to interfere with the emblem from the steering wheel. 

Despite the bad news, FCA is currently trading higher by almost 2%.

Sources: reuters.com, blackburnnews.com


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Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.