How Will Fiat (FIATY) Stock React To New Chrysler Faulty Ignition Switch Investigation?

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.

Must Read: Warren Buffett's 25 Favorite Growth Stocks

 
  
FIATY Chart

FIATY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Lyft and Waymo Launch Self-Driving Car Testing Partnership

Lyft and Waymo Launch Self-Driving Car Testing Partnership

Volkswagen Loses Market Share as European Car Sales Inch Up in August

Volkswagen Loses Market Share as European Car Sales Inch Up in August

European Markets End Day Mixed; Car Makers Slide

European Markets End Day Mixed; Car Makers Slide

Will Amazon.com (AMZN) Stock be Affected Today by EU Tax Case?

Will Amazon.com (AMZN) Stock be Affected Today by EU Tax Case?

How Will Fiat Chrysler Automobiles (FCAU) Stock Respond in Its Wall Street Debut Today?

How Will Fiat Chrysler Automobiles (FCAU) Stock Respond in Its Wall Street Debut Today?