The amount of money taxpayers lost on the GM (read: “union”) bailout is more than $11 billion, and look what we continue to get for that “investment”: Another round of recalls:
General Motors has issued four separate, new recalls for more than 2.4 million vehicles in the United States, the automaker announced on Tuesday.
The cars include 2009-2014 model years of the Buick Enclave, Chevrolet Traverse, and GMC Acadia, and 2004-2008 model years of the Chevrolet Malibu. Cadillac Escalades, Chevrolet Silverado pickups and GMC Sierras from the 2015 model year were also among the vehicles involved in the recalls.
GM said that it was issuing the recalls “in a continuing effort to quickly address emerging safety issues.”
The company will also take a $400 million charge in the second quarter, including a previously announced $200 million charge, to cover recall-related repairs over the quarter.
The running total:
.@GM has now recalled 13.6 million vehicles in US in 24 campaigns and at least 15.2 million worldwide this year
— David Shepardson (@davidshepardson) May 20, 2014
GM has now in a year recalled more cars than they’ve sold in the U.S. in the last five years.
Obama speaking about the GM bailout last year: “Today, that bet has paid off.”
I’m sure did pay off for somebody.
