Earlier last week, there was a report that charted all OEM recalls in the past five years. And at the time, the leader wasn’t General Motors, but Toyota at 24 million. But with the latest news today, GM has recalled over 20 million vehicles this year alone. Add that to the previous recalled list of over 6 million, and well, there it is.
That said, those numbers don’t really matter as much as it will cost General Motors to patch all of the defects up. The company expects to take a charge of up to approximately $700 million in the second quarter for the cost of recall-related repairs announced in the quarter. This amount includes a previously disclosed $400 million charge for recalls announced May 15 and May 20.
Nobody is sure just how long this will happen. But as it happens, we will continue to report the latest.