General Motors announced on June 30, 2014 that it will conduct six additional safety recalls which involve some 7.6 million vehicles from model years 1997 to 2014. This latest news on this GM recall was so shocking that it briefly halted trading of the companys shares. General Motors announced that in order to pay for the recall costs, it will take a $1.2 billion charge in the second quarter. That represents a huge increase over the $700 million charge the company had previously projected to take for earlier recalls. The latest recall list brings GMs total for recalled vehicles this year to a staggering 25.7 million. Most of the vehicles being recalled in the June 30 announcement – roughly 6.8 million in the U.S. alone – concern the ignition switch issue on larger GM cars, whereas mostly smaller cars were involved in the previous recalls. This latest recall involves various GM branded sedans mostly built in the last ten years. Among these larger autos, USA Today reported that “GM says it has identified seven crashes involving eight injuries and three fatalities that it believes could be tied to the ignition switch issue, although it adds there is no conclusive evidence’ of a link.” These deaths come on top of the 13 deaths GM says are linked to its smaller recalled cars. 1.713.238.7758 rmatthews@dmlawfirm
Posted on: Sun, 06 Jul 2014 13:45:54 +0000
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