General Motors said it would take a $300 million charge to earnings in its first quarter to cover recall costs for faulty ignition switches and for three new recalls covering about 1.7 million Cadillac, Chevrolet, Buick and Saturn vehicles world-wide.
GM has really gotten themselves into a mess with its consumers, and could potentially loose thousands of them to other car manufacturer’s. GM has waited way to long to put out a recall on their cars, and too many have been injured or killed in car accidents due to manufacture malfunctions than should be tolerated. GM has done such a poor job at the recall process I think people will feel unsafe driving their cars, and feel like the company is more into making money than the consumers safety. This could potentially turn into a big problem for GM and they could lose millions of dollars because they did not fix a simple but deadly problem when they found out about it.