FINANCIAL TIMES: General Motors on Monday announced a new slew of vehicle recalls and more than doubled its estimate of the costs of recalling faulty vehicles this quarter as Mary Barra, chief executive, prepared for a grilling from sceptical US legislators.
The latest recall covers 1.3m older vehicles – the most recent from 2009-10 – that GM said could experience “a sudden loss of electric power steering assist.” The vehicles add to 2.2m compact cars that GM has recalled over potentially dangerous ignition switches and another 1.5m vehicles that it recalled over other issues in mid-March.
GM said its expected charge this quarter for recalls had risen from the $300m it announced in mid-March to $750m… (more)
