GM to Recall 1.3M More Vehicles for Steering Glitch

by Christopher Freeburn | April 1, 2014 10:45 am

[1]On Monday, General Motors (GM[2]) issued a major recall over a defect in the power steering systems of some older vehicles[3].

The latest GM recall affects more than 1.3 million Chevrolet, Pontiac and Saturn cars with model years between 2004 and 2010. GM had previously issued a recall for some Chevy Cobalt cars over a fault that can cause power steering systems to fail while the vehicles are in use, USA TODAY notes.

The loss of power steering can make the vehicles more difficult to maneuver, increasing the risk of an accident. The new GM recall also covers repairs made the the cars under a 2010 recall. Vehicles covered under the new recall include the Chevrolet Malibu, Chevrolet Malibu Max, Chevrolet HHR, Chevrolet Cobalt, Saturn Aura, Saturn Ion and Pontiac G6.

The recall comes as new GM CEO Mary Barra will testify before the U.S. congress on Tuesday. GM is facing scrutiny from lawmakers over its failure to notify regulators about problems with the ignition switches in some older models. Those problems, which GM reportedly knew about for years, have been linked to a number of fatal accidents[4].

Shares of GM rose more than 1% in Tuesday morning trading. General Motors stock has risen more than 20% over the past year.

More GM News:

• General Motors Stock Running Low on Momentum Fuel[5]
• GM Stock Falls on Big Profit Miss by General Motors[6]
• General Motors Has Award-Winning Day at 2014 Detroit Auto Show[7]

Source URL: https://investorplace.com/2014/04/gm-recall-1-3m-vehicles-steering-glitch/

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