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Former DaimlerChrysler paid record fuel economy fine in 2007

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The former DaimlerChrysler AG paid a record US$30.3 million fine in 2007 for violating fuel efficiency requirements set by the U.S. government.

The fine was assessed by the National Highway Traffic Safety Administration against the automaker, which was divided last year when private equity group Cerberus Capital Management LP acquired an 80.1-per cent stake in Chrysler. The fine was reported by the agency in documents posted last month on its website.

DaimlerChrysler paid the Corporate Average Fuel Economy, or CAFE, fine for imported passenger cars from the 2006 model year. Most of the imported vehicles from that year were Mercedes-Benz luxury cars, which are part of Daimler AG.

BMW of North America had the previous record, paying nearly US$28 million in October 2002 for violations related to 2001 model year vehicles.

Many manufacturers of luxury vehicles regularly consider the CAFE fines as the cost of doing business. The fines, which are paid to NHTSA, were established to ensure that vehicles meet basic gas mileage standards.

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Former DaimlerChrysler paid record fuel economy fine in 2007
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