Market Overview

GM Continues To Add To Already-Long List Of Recalls

Related GM
David Einhorn's Trump-Proof Investment Plan
Blood, Sweat And Tear Gas: Trump's 'Cadillac One' To Debut Next Week
Tesoro And Aircastle Are Top Strategic Dividend Index Dogs For Winter (Seeking Alpha)

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.

Posted-In: News General


Related Articles (GM)

View Comments and Join the Discussion!