SAIC General Motors Initiates Massive 1M Vehicle Recall in China Over Power Loss Concerns in Buick, Cadillac, Chevrolet Brands
Portfolio Pulse from Anan Ashraf
SAIC General Motors Co, a joint venture between China’s SAIC Motor and General Motors Co (NYSE:GM), has issued a recall for over a million vehicles in China due to risks of power loss while driving. The recall, which will start from May 31, 2024, will affect certain Buicks, Chevrolet, and Cadillac vehicles. The issue is due to poor moisture proofing, which may cause water to invade the control module and potentially cause power loss. The company will replace the control module free of cost to the customers.
November 10, 2023 | 9:09 am
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General Motors Co (NYSE:GM) is part of a joint venture that has issued a recall for over a million vehicles in China due to risks of power loss. The recall will start from May 31, 2024.
The recall of over a million vehicles in China could potentially impact General Motors' reputation and financials. The cost of replacing the control module in the affected vehicles will be borne by the company, which could impact its short-term financial performance. Additionally, this could also affect the company's sales in China, a key market for GM.
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