Tuesday, February 27, 2024
HomeautosGM recalls another 1.5 million vehicles, to take $300 million charge

GM recalls another 1.5 million vehicles, to take $300 million charge

General Motors will take a $300 million charge primarily to cover the costs related to the faulty ignition switches linked to at least 12 deaths as well as three more recalls it announced on Monday.

The No. 1 U.S. automaker, which will take the charge in the first quarter, did not provide a breakdown of how much was related to the ignition-switch recall of more than 1.6 million older-model vehicles.

(Read more: 303 died in GM crashes with failed air bags)

GM also said it is recalling more than 1.5 million newer sport utility vehicles, luxury sedans and full-size vans in three separate recalls. While there were reports of engine compartment fires in two dealer-owned Cadillac XTS sedans, the company said it has received no reports of accidents or injuries related to the three new recalls.

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