GM tells Wall Street that more recalls are likely - WNEM TV 5

GM tells Wall Street that more recalls are likely

Posted: Updated:

General Motors is telling Wall Street that a recent spate of recalls may last until mid-summer as it continues a review of safety issues.

The news comes a day after The Associated Press learned that GM CEO Mary Barra told members of Congress that the company cannot make ignition switches fast enough to keep up with demand in its recall of 2.6 million small cars.

GM has recalled 13.8 million cars and trucks in the U.S. since the start of the year.

Barclays analyst Brian Johnson tells investors that GM's management said Wednesday that a five-person team will decide future recalls.

GM told Johnson the company will recall cars as soon as it discovers an issue. That will increase the frequency of recalls but limit their size.

Copyright 2014 Associated Press. All rights reserved.

Powered by Frankly
Powered by WorldNow CNN
All content © 2018, WNEM; Saginaw, MI. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.