General Motors Company (NYSE:GM) is on a roll, but unfortunately to no good. The automaker is back in the headlines and the context has only changed slightly. On Bloomberg Scarlet Fu reported that the company is embarking on yet another recall, which will be 79th this year.
“[…] Yet another recall for General Motors Company (NYSE:GM), and this time it’s because of a headlight problem. The automaker says they could stop working. More than 316,000 vehicles in North America are affected. The recall is GM’s 79th this year. The company has recalled a record 30.4 million cars and trucks […],” informed Fu.
Needless to say this is a nightmare for General Motors Company (NYSE:GM) which earlier had to face the consequences of all sorts of problems with its vehicles ranging from faulty ignition switches to unsecured floor mats. It is also a nightmare as far as consumer confidence is concerned.
The headlights problem particularly seems a potentially dangerous one, especially for driving at night. It is indeed a fatal fault, but then again so was the ignition switch problem, earlier this year. In case the switch went off there was obviously no power for the engine , but also the power steering and the air bag became ineffective.
This news came at a time when people thought that it just isn’t possible for General Motors Company (NYSE:GM) to carry out any more recalls after an already bloated number for this year. Apparently not, and now I am sure some might be wondering if the company might as well hit the 80th mark in the next 28 days or so to add another shameful award to its credentials this year.
Moreover, this also brings the question of what exactly is going over at General Motors Company (NYSE:GM) in terms of quality control.
After a slight dip yesterday, the stock is up about 1.8% in early trading today and stands at $33.56. The stock price has perhaps taken so much beating this year on account of recalls that now the stock has become resilient to this kind of news.
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