The New Paper

November 24, 2020

GM to recall 7M vehicles

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.

This story is from the November 24, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.