To date, GM has recalled approximately 2.6 million small cars for the ignition switch defect. GM has linked 13 deaths and more than two dozen motor vehicle accidents to problems with the ignition switch. In 2014 , GM has recalled nearly 7 million vehicles for multiple issues, including the ignition switch defect, steering problems, flaws in side airbag wiring, and malfunctioning instrument panels. According to CNN Money, GM estimates it will take a $750 million charge against earnings in the first quarter of 2014 to cover the cost of all repairs.
GM’s new CEO, Mary Barra, is expected testify before Congressional committees regarding the major recall this week.
To view the aforementioned CNN Money article, see: http://money.cnn.com/2014/04/01/news/companies/gm-recalls/.
Picture from http://www.nbc33tv.com/news/national-news/gm-recalls-426000-sedans.
Posted by Andrew Wheeler