FCA To Buy Back Over 200,000 Vehicles

FCA is going to buy-back hundreds of thousands of trucks, SUVs and crossovers. This buy-back program is related to the consent order that FCA received from the NHTSA earlier this week. In addition to a record-setting $105 million dollar fine, FCA is going to buy back somewhere between 200,000 and 578,000 trucks, SUVs and crossovers. Many reports have indicated FCA is buying back 500,000 plus vehicles, however, a press release from the automaker sought to clear up that confusion.

Essentially, there were 578,000 eligible vehicles to be recalled, however, by now many have been repaired and won’t be subject so a repurchase program. In a press release, FCA sought to clear up the confusion. Part of the July 27 FCA press release reads in part, “As of this date, repairs have been completed on well over 60 percent of the subject vehicles, leaving less than two hundred thousand eligible vehicles. As is expressly provided for under the consent order, FCA intends that any vehicles repurchased will be remedied and resold.”

According to Car and Driver, the following vehicles are eligible for repurchase:

• 2008–2012 Dodge/Ram 1500 pickups (265,000 vehicles)
• 2008–2012 Dodge/Ram 4500 and 5500 heavy-duty pickups (35,942 vehicles)
• 2009–2011 Dodge Dakota
• 2009 Dodge Durango
• 2009 Chrysler Aspen

For vehicle owners who have not had any recall work done on their vehicles, the buy-back program will include depreciation. FCA explained this further in a press release. According to the July 27 press release FCA plans to, “repurchase those vehicles at a price equal to the original purchase price less a reasonable allowance for depreciation plus ten percent.”

They’re buying back hundreds of thousands of trucks and SUVs. Down the road what impact will this action have on retail automotive not only for this buy back program but for others involving the NHTSA in the future?