Two sources have told Reuters that the government will levy a $900 million fine on General Motors for its failure to recall and subsequent attempts to cover-up of faulty ignition switches linked to at least 124 deaths.
Criminal charges will be filed against GM for its role in hiding the defect from regulators, but will defer prosecution while the automaker complies with its penalty. The agreement is expected to be announced Thursday.
The massive fine is smaller than the $1.2 billion Toyota paid in March 2014 for its role in concealing that its cars could accelerate suddenly. (Read More…)
Do you or yours happen to own one of the models affected by the February 2014 General Motors ignition switch recall? The automaker finally has a replacement ready at your convenience.
Are your children about to start college? Maybe it’s their senior year in high school? Looking for a cheap vehicle and don’t mind if it’s been recalled to death by its automaker? Then a vehicle caught up in the General Motors recall parade might be the one, as prices have fallen hard as of late.
GM is recalling 778,000 units of the 2005 through 2007 Chevrolet Cobalt and Pontiac G5 over an issue where the ignition cylinder inadvertently turns out of the “Run” position, there by turning the car’s main electrical systems “off”. These systems include the engine, anti-lock brakes, and airbag systems. According to USA Today, GM knew of six deaths, and twenty-two other wrecks related to the ignition failure, and was aware of the defect since 2004.