GM Recalls More Cars Than Sold the Last Five Years [Video]
GM has recalled more cars and trucks in the U.S. this year than it sold in the five years since filing for bankruptcy according to a new report.
So far this year, there have been 29 recall announcements totaling 13.8 million vehicles (11 recalls in one week alone) and the automaker is arguing that the surge in recalls is because the company is holding itself to higher safety standards and tackling problems more quickly. However, just last week, GM was fined the maximum $35 million fine for a decade delay to report a ignition switch defect which has been tied to at least 13 deaths.
On top of the $35 million fine, GM will pay about $1.7 billion to fix all the recalled cars and their shares are down about 18 percent. Even with all of this GM’s sales are seven percent higher than they were a year ago. With all that is going on with GM lately, would you consider buying one?