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

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

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

GM[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.

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