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jca's avatar

Do you think Fiat/Chrysler will go out of business?

Asked by jca (36062points) July 27th, 2015

Fiat/Chrysler faces 105 million dollar fine for recalls, plus has to buy back Jeeps and other vehicles with safety defects.

I don’t own a Fiat and I don’t own a Chrysler so this does not affect me personally. Just curious if others feel that this huge fine and financial woes will sink Fiat/Chrysler.

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7 Answers

elbanditoroso's avatar

No. This fine ($105 mill) is going to be largely covered by insurance anyway.

And Fiat has VERY deep pockets. This is a drop in the bucket. Nothing which is going to cause them any financial instability.

Tropical_Willie's avatar

Fiat is worth tens of Billions of dollars. Chrysler was worth $10 billion when Fiat bought them.

Adirondackwannabe's avatar

No, that fine is probably a lot less than the CEO makes.

stanleybmanly's avatar

105 mil is pocket change to a corporation the size of Fiat/Chrysler.

talljasperman's avatar

I remember the phrase “fix it again Tony.”

LuckyGuy's avatar

This will really hurt them.

Hackers recently took control of a Jeep and controlled brakes, speed, radio, transmission, etc. They got in through the car’s Uconnect system: “the hackers got into the Jeep through an electronic opening in the radio and said it would update software to close it. On Thursday, Fiat Chrysler sealed off a loophole in its internal cellular telephone network”

Chrysler Recall

”...two well-known hackers, Charlie Miller and Chris Valasek, remotely took control of the Cherokee through its UConnect entertainment system. They were able to change the vehicle’s speed and control the brakes, radio, windshield wipers, transmission and other features. They estimated 471,000 vehicles were vulnerable.”

“The recall affects vehicles with 8.4-inch touchscreens including 2013 to 2015 Ram pickups and chassis cabs and Dodge Viper sports cars. Also covered are 2014 and 2015 Dodge Durango and Jeep Grand Cherokee and Cherokee SUVs, as well as the 2015 Chrysler 200 and 300, and the Dodge Charger and Challenger.”

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