GM Issues Recalls Over Bolts, Airbags

by Christopher Freeburn | February 1, 2013 9:25 am

[1]A problem with suspension system bolts has led General Motors (NYSE:GM[2]) to recall thousands of its popular Chevrolet Malibu cars[3] even as the automaker expands a previously announced recall over malfunctioning airbags.

The new recall affects 8,519 Malibus from the 2013 model year. The bolts in the cars’ suspension systems were not properly tightened and could loosen further during driving, potentially leading to a loss of control and accidents, USA Today noted.

GM informed the National Highway Traffic Safety Administration of the recall. Owners will be notified and can bring their vehicles to GM dealerships for bolt inspections. Proper tightening will be done without charge, if necessary.

Despite the recall, GM shares rose fractionally in pre-market trading on Friday.

The company is also expanding a previous recall of 2012, Chevrolet Cruze, Chevrolet Sonic and Buick Verano models to include the Chevrolet Camaro. That recall concerns potentially defective airbags.

GM’s latest recall is just one of several from major automakers:

• Earlier this week, Toyota (NYSE:TM[4]) recalled almost a million Corollas and almost 400,000 Lexus vehicles for malfunctioning airbags and windshield wipers[5].
• In December, BMW recalled more than 30,000 of its X5 sport-utility vehicles due to power steering issues[6].
• Also last month, Ford (NYSE:F[7]) recalled 89,000 of its 2013 Fusion and Escape models over reports of engine overheating and fires[8].
• In November, Toyota recalled 2.77 million vehicles around the world over defective steering systems and water pumps[9].
• Also in November, Fiat‘s (PINK:FIATY[10]) Chrysler recalled more than 900,000 Jeep Grand Cherokee and Liberty vehicles due to defective airbags[11].

Source URL: https://investorplace.com/2013/02/gm-issues-recalls-over-bolts-airbags/

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