GM (GM), SAIC Recall About 1.5M Autos in China
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Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.9%
EPS Growth %: +25.7%
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General Motors (NYSE: GM) and partner SAIC will recall over 1.46 million Buick and Chevy autos in China due to faulty fuel-pump brackets.
One spokesperson for GM in China said the fuel-pump holder could crack with use over time, which may result in fuel leakages in extreme circumstances. No fatalities have been reported and the spokesperson did not disclose the cost of the recall.
About 1.2 million Buick Excelle produced between 2006 and 2011 and 244K Chevy New Sails manufactured between 2009 to 2011 were put the the recall list.
GM and SAIC's 50-50 joint venture in China is known as Shanghai General Motors Co.
Shares of GM are lower in early trading Friday.
One spokesperson for GM in China said the fuel-pump holder could crack with use over time, which may result in fuel leakages in extreme circumstances. No fatalities have been reported and the spokesperson did not disclose the cost of the recall.
About 1.2 million Buick Excelle produced between 2006 and 2011 and 244K Chevy New Sails manufactured between 2009 to 2011 were put the the recall list.
GM and SAIC's 50-50 joint venture in China is known as Shanghai General Motors Co.
Shares of GM are lower in early trading Friday.
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