General Motors says second-quarter profit fell 85 percent as recall costs chopped $1.5 billion from the bottom line.
The 2005 email, unearthed in April during a company wide review of ignition-switch problems, is more evidence that GM knew about safety problems for years but failed to recall troubled cars until recently.
Seasonally Adjusted Annual Sales Rate hits 17 million for the first time since 2007, as customers ignore recall news.
General Motors is recalling at least 7.6 million more vehicles dating back to 1997 to fix faulty ignition switches as the company’s safety crisis continues to grow.
Good weather and a strong Memorial Day weekend helped car buyers ignore reports of recalls, pushing car and truck sales up more than ten percent in May.
General Motors recalled a small number of Pontiac G6 midsize cars to fix a faulty brake light system in 2009, yet waited more than five years to call back over 2 million other cars with the same system.
General Motors CEO Mary Barra has told Washington lawmakers that GM could simultaneously release an internal investigation into a deadly ignition switch problem and its plan to compensate victims.
U.S. Secretary of Transportation Anthony Foxx and the National Highway Traffic Safety Administration’s Acting Administrator David Friedman are holding a press conference.
General Motors is recalling nearly 60,000 Saturn Aura midsize cars because the automatic transmission shift levers can show the wrong gear.
Members of a Senate subcommittee accused General Motors of trying to cover up problems with an ignition switch that is now tied to 13 deaths.
The recall covers vans from the 2009-2014 model years and includes GMC Savana and Chevrolet Express models.
GM is recalling more than one and a half million cars.
As the campaign draws to a close it has become very apparent that Obama will return to the White House and that Harry Reid will lead a Democratic Senate.
Auto manufacturing is back in America – especially in Michigan, Ohio and Pennsylvania because President Obama made the politically risky decision to bailout the auto industry after bailing out the banks. It was a decision that worked. Obama was right, Romney was wrong. So Romney is now in full lying mode. He is trying to retroactively re-write the wrongs in his writings.
Yes, it’s great that all turned out well for the auto workers, but it is absolutely horrendous to know that the American taxpayers via President Obama’s actions could have been left standing for billions of dollars – and still might.