Ferrari Fined $3.5 Million by Feds
The National Highway Traffic Highway Safety Administration has slapped Ferrari with a large fine over failing to submit early warning reports.
Ferrari will now pay a $3.5 million civil penalty over the matter. Federal law requires that automakers submit early warning reports on a quarterly basis and Ferrari has admitted it failed to submit them over a three-year period. The Italian brand also failed to report three fatal incidents.
Before Fiat acquired Chrysler, Ferrari qualified as a small volume manufacturer and was not responsible for turning in quarterly reports, but that changed with the buyout. However, fatal incident reports must be submitted regardless of the size of the company.
SEE ALSO: US Senators Seek to Remove Cap from NHTSA Fines
In addition to the fine, Ferrari is required to improve its early warning reporting and to properly train personnel on the early warning requirements.
“There is no excuse for failing to follow laws created to keep drivers safe, and our aggressive enforcement action today underscores the point that all automakers will be held accountable if they fail to do their part in our mission to keep Americans safe on the road,” said U.S. Transportation Secretary Anthony Foxx.
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Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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Sounds like a lot of dough but it is chump change to Ferrari. However, they won't let it happen again.