/ General Motors, Industry, News / GM’s latest recalls make the automaker double the charge for Q2

GM’s latest recalls make the automaker double the charge for Q2

Linked In Share
GM’s latest recalls make the automaker double the charge for Q2

With four recalls over the space of a few days, and reaching so far a tally close to 15.4 million recalled cars, General Motors has also announced it’s forecasting the second quarter charge is set to double.

Just yesterday, the No.1 US automaker announced another 2.6 million cars are being called back to the services, a shameful tally adding to the high profile recall issued late February, concerning several models and around 2.6 million cars equipped with defective ignition switches. As we all know, the timing of the recall was way off, with the automaker now facing five federal probes, a host of fines and a mountain of lawsuits.

After in the first quarter of the year GM took a huge charge, of $1.3 billion, mostly linked to the ignition switch recall, for the second quarter the carmaker is expecting a $400 million charge, again mostly in relation to recall-related repairs.

Just to put into perspective the actions for the year so far at General Motors, the 29 issued recalls and the total number of cars – considering it’s not even June yet, has already exceeded all the actions taken in the previous five years.

So far, in the extensive investigation faced by GM over the defective ignition switches, the NHTSA and the Department of Transportation fined the company the maximum allowed of $35 million, adding that it also broke the law since it knew about the defect at least since 2009.

Via Reuters

by Aurel Niculescu (my Google+) - Wednesday, May 21st, 2014 - filed under General Motors, Industry, News. Image credit: .
Linked In Share
Related Articles
charge increase recall second quarter us


Discuss: GM’s latest recalls make the automaker double the charge for Q2

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Mercedes set for 50hp engine boost in 2015 – report
Mercedes set for 50hp engine boost in 2015 – reportJan.5 (GMM/Inautonews.com) Delaying a start-of-season engine 'freeze' may be nowhere near enough for Mercedes' rivals to catch ...
Rookie Verstappen plays down high expectations
Rookie Verstappen plays down high expectationsJan.5 (GMM/Inautonews.com) Max Verstappen has moved to play down expectations ahead of his record-making formula one debut in ...
Force India sets January 21 launch date
Force India sets January 21 launch dateJan.5 (GMM/Inautonews.com) Force India has set a firm date for the launch of its 2015 car, the Mercedes-powered VJM08. After ...
Sainz’s father says surname no ticket to F1
Sainz’s father says surname no ticket to F1Jan.5 (GMM/Inautonews.com) Carlos Sainz insists his famous name alone did not power his 20-year-old son all the way to formula ...
Mercedes, McLaren to change colours in 2015 – report
Mercedes, McLaren to change colours in 2015 – reportJan.5 (GMM/Inautonews.com) At least two top teams will enter the 2015 season with fundamentally different colour schemes, it has ...
Struggling teams still face uncertain future
Struggling teams still face uncertain futureJan.5 (GMM/Inautonews.com) Less than a month before official winter testing begins, the future of the ailing backmarkers ...
Honda excluded as engine upgrades allowed in 2015
Honda excluded as engine upgrades allowed in 2015Jan.3 (GMM/Inautonews.com) F1 newcomer Honda has been left out as rival engine suppliers prepare to develop their turbo V6 power ...
Paul Walker’s dad fights off Roger Rodas’ family because of car estate
Paul Walker’s dad fights off Roger Rodas’ family because of car estateThe successful Fast and Furious American actor Paul William Walker IV died on November 30, 2013 together with friend Roger Rodas, ...
GM still having trouble with ignition-related recalls
GM still having trouble with ignition-related recallsEven though it was New Year’s Day, General Motors had little to celebrate about – as the latest recall involving defective ...
US: trucks emerge as 2014’s victors, riding on the falling gasoline price
US: trucks emerge as 2014’s victors, riding on the falling gasoline priceCarmakers operating in the United States, the world’s second largest auto market, have enough reasons to celebrate 2014 – the ...
Ferrari 360 Spider burns in Mexico
Ferrari 360 Spider burns in MexicoAnother case of spontaneous combustion is coming in, this time from Mexico, involving a Ferrari 360 Spider. If you thought that ...
Corporate predictions for 2015 pit fuel cells against battery electrics
Corporate predictions for 2015 pit fuel cells against battery electricsComing out of a strong 2014 in the US and China but full of uncertainties in other parts of the world, the motor industry remains ...
[VIDEO] 2015 Volkswagen Passat – drive&sound
[VIDEO] 2015 Volkswagen Passat – drive&soundA new video with the 2015 Volkswagen Passat is highlighting some of the features of the model and it is revealing the sound of ...
Next-gen Mitsubishi Lancer envisioned
Next-gen Mitsubishi Lancer envisionedThe future generation of the Mitsubishi Lancer is the subject of a rendering which might provide us with a glimpse into the ...
[VIDEO] Alfa Romeo 4C – new promo released
[VIDEO] Alfa Romeo 4C – new promo releasedOne of the best looking vehicles in its segment, the Alfa Romeo 4C, has recently received a new promotional video. If you have ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

ferrari 360 spider fire mexico city 1
2016 mitsubishi lancer render 1
Lamborghini Murcielago SV for sale in the UK 1
cadillac ats new year special 1
2016 skoda superb 1
2016 bmw 7-series leaked 1
Mitsubishi L200 Challenger 1
2015 mazda2 black edition
fiat 500x opening edition 1
kia_niro
McLaren 650S by MSO for sale 1
ferrari f40 photo shoot 1

More automotive from inautonews
The successful Fast and Furious American actor Paul William Walker IV died on November 30, 2013 together with friend Roger Rodas, who was also his financial advisor and CEO of Always Evolving, a Valencia high-end vehicle performance shop co-owned by Walker. Walker and Rodas, 38, who came out of an ...
read more
Inautonews Editors Section
2015 Ford Mondeo arrives in Romania – short test drive inside
2015 Ford Mondeo arrives in Romania – short test drive insideFord Romania has introduced the fifth generation of the Mondeo in Europe, over a 2-day event which has gotten us, automotive journalists, through all ...
Test Drive: Ford Fiesta ST
Test Drive: Ford Fiesta ST The current generation of the Ford Fiesta ST has been officially presented to the public back in March, 2012, during the Geneva Motor Show, and it ...
Test Drive: Renault Twizy – Back to basics
Test Drive: Renault Twizy – Back to basics Renault has been producing the Twizy for a couple of years now, in its Valladolid, Spain, facility but spotting one on European roads can turn out ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety GM still having trouble with ignition-related recallsEven though it was New Year’s Day, General Motors had little to celebrate about – as the latest ... Recall roundup: Harley Davidson bikes for brake bolt corrosionHarley Davidson Motor Company has issued a recall for the all-American motorcycles because of a ...
Safety Section