GM recalls 7.6 million vehicles in the US and a total of 8.4 million vehicles worldwide because of faulty ignition switches. With this most recent announcement, the cost related to recalls increased from 500 million to $1.2 billion this quarter. Attorney Keven Feinberg has been retained by the company to develop a victim compensation plan.
General Motors announces four recalls of nearly 430,000 vehicles in the United States, involving the air bag inflators in Chevrolet Cruze sedans in the 2013-2014 model year. GM’s Chief Executive Mary Barra:
We’re going to continue to look at the data that we get, and we’re going to take the action that we need. If we find an issue, we’re going to deal with it.