General Motors will recall roughly 7M vehicles due to a potentially dangerous airbag inflator. The decision stems from a broader recall issued by the National Highway Traffic Safety Administration related to inflators made by now-bankrupt auto parts manufacturer Takata. GM issued a statement saying that it disagrees with the NHTSA’s decision and believes its vehicles are safe, but that it will comply with the order. The recall is expected to cost GM ~$1.2B (representing roughly 1% of annual revenue or 18% of annual net income).
More context: The recall order applies to certain trucks and SUVs made between 2007 and 2014. Vehicle owners can check whether their vehicles are being recalled on the NHTSA website.