General Motors Co. (NYSE: GM) has initiated a recall on nearly 800,000 model year 2014 Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks to repair a defect that may cause a temporary loss of electric power steering assist followed by a sudden return of power, especially during a low-speed turn. About 690,000 of the trucks were sold in North America and the rest we sold internationally.
The repair involves a reflash of the power steering module software, and the company said it will reimburse owners who paid for the repairs. Vehicles produced after September 11, 2017, will have the proper software installed.
GM did not report any accidents or injuries related to the defect. The company estimates that 2% of the recalled vehicles will have been affected by the defect.
[nativounit]
GM will notify vehicle owners of the recall program but has not provided a notification date. The repair will be made free of charge to owners.
The company issued a stop-shipment notice to dealers on June 29.
[recirclink id=405439]
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks