GM Continues To Add To Already-Long List Of Recalls
The market does not seem to react to General Motors (NYSE: GM) recalls anymore.
Near the end of Monday's regular session, GM announced the recall of an additional 3.16 million cars, bringing the total of the recall saga up to 20 million vehicles. Similar to previous recalls, the company said too much weight on the key chain may cause the cars to inadvertently shut off.
Perhaps more importantly, General Motors raised its second-quarter recall charge from $400 million to $700 million. This increase comes after recalls Monday and five recalls announced last Wednesday.
Shares of GM are trading up nearly $0.20 in Tuesday's pre-market session' the stock last traded at $36.24.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.