Fiat Chrysler Automobiles NV (NYSE:FCAU) has recalled roughly 1.9 million vehicles due to a faulty airbag system. The recall involves Jeep and Dodge vehicles sold globally.
The Fiat Chrysler recall has affected various models including the Chrysler 200 manufactured from 2011 to 2014, the Jeep Compass manufactured from 2010 to 2014, and the 2010 Chrysler Sebring. It has also affected the 2010-2014 Dodge Avenger and the 2010-2012 Dodge Caliber. The faulty airbags have a control module known as ORCM that can prevent the airbags when deploying in case of an accident. In some cases, the airbags can deploy unexpectedly.
The company has issued the recall following three deaths that are linked to the airbag flaw where the airbags failed to deploy. The FCA also claims that five more people have been injured in such crashes. A consumer safety advocate known as Alan Christopher of Consumer Safety Watch claims that the airbags might not work in the event of a crash if the module fails to function. The seatbelts might also fail to tighten, thus putting the driver and the passengers at more risk.
“Fiat Chrysler is finalizing the remedy and customers will be advised when they may schedule service,” stated one of the company’s spokespersons.
The spokesperson stated that the repairs for all the recalled vehicles are not yet ready and the process could take some time. This also means that the owners of the vehicle will continue to be in danger until the problem is fixed. The company also reported that the wiring harnesses and occupant restraint controllers used in the models involved in the recall are no longer used in the new vehicles. Nonetheless, the controller was used in roughly 1.4 million vehicles in the US alone while the other half a million vehicles were sold outside the US.
Fiat Chrysler stock closed the latest trading session at $6.19, down by $0.24 or 3.73% compared to the value of the stock in the previous session. The stock had a trading volume of 5.29 million shares.