Will GM Claim the Final Recall of 2012?
With just a handful of days before the new year, General Motors (NYSE:GM) will reportedly recall over 145,000 Chevrolet Colorado and GMC Canyon pickup trucks because of a missing latch that could cause the hood to open unexpectedly.
No injuries or crashes have been reported to date because of the issue, and there are only four known instances in which the latch has been found missing. About 118,800 of the vehicles affected are in the United States.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Statistic Brain reports that GM issued a total of only 500,000 recalls last year, which is phenomenally low given the volume of its top competitors. GM is the second-largest car maker by volume. Toyota (NYSE:TM), the largest, recalled 3.5 million vehicles in 2011. Ford (NYSE:F) recalled 3.3 million.
But despite its admirable safety record in 2011, GM is on track to join its peers at the top of the recall list this year. Between this recent recall and just one of several others announced this year, the company has already surpassed its 2011 numbers. For example, in September the company announced a recall of about 426,00 midsize sedans because of problems with the transmission. In June, it recalled over 413,000 Chevrolet Cruzes because of a fire-hazard concern.
Investing Insights: Is Chevron’s Stock a Buy Now?