Ferrari Agrees to $3.5 Million U.S. Fine on Death Reports

Photo: Reuters

Luxury carmaker Ferrari SpA agreed to pay a $3.5 million fine for failing to report customer complaints, alleged defects and three deaths to U.S. regulators.

The National Highway Traffic Safety Administration said Ferrari hasn’t submitted since 2011 the “early warning reports” required by the U.S. government to track the frequency and severity of vehicle safety issues. In addition to the civil penalty, Ferrari agreed to train employees on reporting rules and retroactively submit three years of documented incidents.

“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,” Transportation Secretary Anthony Foxx said in a statement.

Ferrari, which has a self-imposed production cap of about 7,000 cars a year to preserve its exclusive appeal, had once been exempt from the reporting requirements because its sales volumes didn’t meet a certain threshold. That changed in 2011, when the Maranello, Italy-based company was acquired by Fiat Chrysler Automobiles NV. (FCA)

Fiat said earlier this week that it plans to spin off Ferrari, whose lineup includes the $319,000 F12berlinetta and $288,000 458 Speciale.

The consent order released today didn’t provide details about the various incidents Ferrari failed to report, including the three deaths.