General Motors Company (NYSE:GM) has announced that it is expecting to take a $1.3 billion charge in the first quarter related to the ignition-switch recall. The recall addresses an issue where some drivers’ keys could fall out of the ignitions while the car is on.
General Motors Posts
General Motors Company (NYSE:GM) is planning on launching a cheaper version of the Volt hybrid vehicle with a smaller battery pack and shorter driving range. A smaller version of the next generation Volt, according to Automobilwoche.
General Motors Company (NYSE:GM) has announced that it is expected to update its Detroit-Hamtramck assembly plant by spending $450 million and adding 1,400 new jobs. The car in this case is the updated or redesigned Chevrolet Volt range-extended electric car, which will launch for the model year 2016, according to the Detroit News. The Detroit News cited four sources that are familiar with GM’s plan.
General Motors Company has submitted answers to U.S. safety regulators that were sought from the company about a defective ignition switch that was connected to at least 13 deaths.
General Motors Company (NYSE:GM) has recalled almost 7 million vehicles this year so far. This is almost as many cars and trucks as it recalled in the U.S. over the last four years combined.
On Friday, General Motors said it was extending its ignition switch recall to an additional 971,000 small cars worldwide that may have been previously repaired with defective switches. General Motors is already recalling 1.62 million cars that were made in the 2007 model year and earlier to replace switches that may jostle and cut off power to the engine. This would deactivate air bags as well.
During the Winter Olympics, General Motors aired a TV ad called “Poolside.” The Poolside ad starred Neal McDonough and talked about the upside of working hard. McDonough said that other countries takes the month of August off as a whole.
Continue reading →