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MarketScreener Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

GENERAL MOTORS COMPANY

(GM)
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General Motors : GM Recalls 3.5 Million Trucks, SUVs Over Brake Defect

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09/11/2019 | 10:14am EDT

By Mike Colias

General Motors Co. is recalling about 3.5 million late-model pickup trucks and sport-utility vehicles in the U.S. to fix a problem that makes it harder for drivers to apply the brakes, increasing the risks of crashing.

GM told federal safety regulators that in rare instances, a mechanical vacuum pump that assists in braking may lose output over time, reducing the vehicle's brake-assist function. The National Highway Traffic Safety Administration opened an investigation last fall after receiving 111 reports from drivers complaining of the problem, including reports of nine crashes and two injuries.

The recall covers Chevrolet Silverado and GMC Sierra pickup trucks, as well as Chevy Tahoe and Suburban SUVs, GMC Yukon SUVs and Cadillac Escalade SUVs from model years 2014 to 2018. Dealers will reprogram a software module at no cost to the customer to fix the problem, GM said.

The big trucks are among GM's top-selling vehicles and its most profitable. Software-related defects typically are less costly to remedy than those that require a mechanical fix.

A GM spokesman declined to disclose the expected cost of the recall but said it would be immaterial to the company's bottom line.

--Ben Foldy contributed to this article.

Write to Mike Colias at Mike.Colias@wsj.com

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Financials (USD)
Sales 2019 146 B
EBIT 2019 11 002 M
Net income 2019 9 539 M
Finance 2019 9 203 M
Yield 2019 3,99%
P/E ratio 2019 5,79x
P/E ratio 2020 5,98x
EV / Sales2019 0,32x
EV / Sales2020 0,30x
Capitalization 55 482 M
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Technical analysis trends GENERAL MOTORS COMPANY
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 47,95  $
Last Close Price 38,86  $
Spread / Highest target 75,0%
Spread / Average Target 23,4%
Spread / Lowest Target -9,93%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
Dhivya Suryadevara Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
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