GM to Take $1.3B Charge to Cover Ignition Switch Recall Mess

by Karl Utermohlen | April 10, 2014 9:42 pm

GM to Take $1.3B Charge to Cover Ignition Switch Recall Mess

General Motors (GM[1]) is spending a lot of money in order to replace the ignition switch of some of its vehicles.

1000px General Motors.svg  300x298 GM to Take $1.3B Charge to Cover Ignition Switch Recall Mess[2]Some of the company’s small cars[3] have a defect in their ignition due to faulty switches. GM has issued a massive recall in order to solve the problem which will cost the company a grand total of $1.3 billion.

The following vehicles will have their ignition switch replaced:

GM stock is down close to 1% Wednesday.

More GM News

Endnotes:
  1. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  2. [Image]: http://investorplace.com/wp-content/uploads/2013/06/1000px-General_Motors.svg_.png
  3. small cars: http://www.usatoday.com/story/money/cars/2014/04/10/gm-recall-more-problems-ignition-switch/7552763/
  4. General Motors Stock Still at Risk: http://investorplace.com/2014/04/gm-recall-stock/#.U0dCwqiwXRE
  5. General Motors to Recall 1.3M More Vehicles for Steering Glitch: http://investorplace.com/2014/04/gm-recall-1-3m-vehicles-steering-glitch/#.U0dCxqiwXRE

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