NEW YORK (TheStreet) -- Shares of Fiat S.p.A. (FIATY) are lower by 0.19% to $10.33 after it was reported that the National Highway Traffic Safety Administration opened two investigations into Chrysler Group vehicles involving possibly faulty ignition switches that can be bumped out of the "run" position, disabling airbags in the event of a crash, Reuters reports.
The issue is similar to recalls by General Motors Co. (GM) faulty ignition switches, although no deaths or injuries but one crash are linked to the ignition switch issue suspected in about 1.25 million vehicles covering five Chrysler Group models involved in these investigation, Reuters noted.
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