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Ignition switch recall: Lawsuits still haunt GM

2015-04-24 11:11

IGNITION SWITCH REDESIGN: In an attempt to resolve its ‘cheap-feeling’ switches, GM redesigned its ignition switches. Unfortunately, the new switches led to at least 13 deaths, 50 crashes and several recalls. Image: AP / Evan Vucci

DETROIT, Michigan - In 2014, Wheels24 reported that General Motors publicly acknowledged 13 deaths linked to its ignition switch defect.

The top US automaker remains under investigation for failing to recall affected vehicles for more than a decade, even after some in the company were aware of the defect.

In April 2015, issues surrounding GM's recall of 36 million vehicles worldwide for safety issues continue to haunt the company.

LAWSUITS PENDING

Here are by-the-numbers details of the recall problems, including new information filed on Thursday (April 23) in GM's first-quarter report to securities regulators:

87 - Number of deaths compensation expert Kenneth Feinberg has determined are eligible for compensation.

157 - Number of injuries deemed eligible for compensation.

129 - Number of lawsuits pending against GM in the US and Canada alleging loss in values of cars due to the 2014 recalls.

144 - Number of US wrongful-death or injury lawsuits pending due to recalls.

50 - Number of state attorneys general investigating the company over the ignition switch and other recalls. In addition, the US Attorney's Office, Congress, Securities and Exchange Commission, and Canadian safety regulators also are investigating.

BILLIONS PAID OUT

63% - Percentage of the 2.6-million older small cars recalled for faulty ignition switches that have been repaired as of Tuesday (April 21).

75% - Percentage of 2014 recall repairs GM expects to finish by the end of 2015.

R2.4-billion - The amount spent as of March 2015 on GM's compensation program for victims of ignition switch crashes.

R4.3-billion - Amount GM has set aside for the compensation fund. Company added R1-billion before taxes last quarter.

R7-billion - The total amount GM expects to pay in compensation.


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Read more on:    general motors  |  usa  |  road safety  |  recalls

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