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.
Subscribe in a reader
