DETROIT — Fiat Chrysler will buy back about 300,000 Ram pickup trucks in the biggest such action in U.S. history as part of a deal with safety regulators to settle legal problems in about two dozen recalls, people briefed on the matter say.
Some of the trucks, which are the company’s top-selling vehicle, have steering problems that have lingered without proper repairs for more than two years, according to documents filed with the National Highway Traffic Safety Administration. The sources say the buyback is part of a larger settlement that includes a record $105 million fine and the appointment of an independent recall monitor. Both people asked not to be identified because terms of the deal haven’t been released.
It was unclear Sunday exactly what Ram models are covered, but documents filed by Fiat Chrysler with the NHTSA show a litany of problems in two recalls of the trucks dating as far back as 2011.