GM Facing $10B Lawsuit Over Recalled Vehicle Value
General Motors is now facing a massive class-action lawsuit due to its numerous recalls.
The American automaker is being sued for over $10 billion in compensation for fallen car prices as a result of over 27-million recalled vehicles. The class-action lawsuit aims to represent anyone who has bought or leased a recalled vehicle from July 2009 to July 2014 and still owns it, sold their vehicle after mid-February (when the recalls started) or had an accident that totaled the vehicle after mid-February.
SEE ALSO: GM Recall Death Toll Increases to 27
According to the complaint filed this week in U.S. District Court in Manhattan against the “new GM,” the automaker is being accused of allegedly spurring price drops of the recalled vehicles by hiding at least 60 serious defects in over 27-million vehicles sold in the U.S. This lawsuit pertains to vehicles made after GM’s bankruptcy. For example, according to the suits, the 2010-2011 Chevrolet Camaros lost $2,000 in resale value as a result of the recalls while the 2009 Pontiac Solstice dropped $2,900.
[Source: Automotive News]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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