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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Business

GM Recalls Another 8.2 Million Cars

via AP Photo/David Goldman, File via AP Photo/David Goldman, File
via AP Photo/David Goldman, File via AP Photo/David Goldman, File

General Motors’ safety crisis worsened Monday after recalling 8.2 million vehicles for “unintended ignition key rotation,” which added more to its already long list of recalled cars.

According to Fox News, GM’s recalls number this year surpassed 28 million. The latest recalls involved seven vehicles, including some old models the Chevrolet Malibu from 1997 to 2005 and the Pontiac Grand Prix from 2004 to 2008, and a newer model, the Cadillac CTS from 2003 to 2014.

 

Read also: GM Initiates Recall in China

 

GM is asking consumers to remove everything from their key rings until the recalled cars can be repaired.

GM also said it would invest $1.2 billion more for recall-related expenses in the second quarter, on top of a $1.3 billion charge in the first quarter. The company’s annual recall expenditure was expected to add up to $2.5 billion.

Mary Barra, CEO of GM, said the recalls were discovered from a serious safety review within the company.

“If any other issues come to our attention, we will act appropriately and without hesitation,” Barra said in a statement.

GM’s stock trading was stopped temporarily Monday afternoon because of the recall’s announcement, but it resumed after around 30 minutes and dropped down to $36.19.

 



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