GM Will Continue Recalls Until Mid-Summer: Analyst
The onslaught of product recalls from General Motors has already seen 13.8 million vehicles called back in the U.S., but the American automaker isn’t done yet.
According to a Wall Street analyst who had a recent meeting with GM executives, the company is still “mining data” to find any existing potential safety problems. GM is getting its information through 10 sources including customer complaints, warranty claims and reports from dealerships.
“It is possible that the recall announcements may continue into mid-summer,” said Barclays Capital analyst Brian Johnson. A GM spokesman declined to comment on Johnson’s prediction.
SEE ALSO: GM Ignition Switch Lawsuits Total $10 Billion
GM has made strides to amend its recall process, starting by tripling its team of safety investigators to 60. The company has also placed product chief Mark Reuss in charge of a five-member team who will oversee all recalls going forward.
A recall over faulty ignition switches that is linked to at least 13 deaths set off this frenzy, and since GM has been slapped with a $35 million fine for failing to report defects in a timely manner. Now, the company is making strides to be sure all safety issues are looked after.
[Source: Automotive News]
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Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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