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Dividend Investing Ideas Center
Shauna O'Brien Jan 21, 2015
For General Motors (GM ), 2014 was a rough year as far as vehicle recalls. In the first half of the year, on average the company announced a new recall once a week. The company also recalled more cars in 2014 than it has sold in the last seven years. GM has recalled more vehicles in 2014 than it has sold since its filed for bankruptcy in 2008.
In the beginning of 2014, GM was faced with a recall scandal that involved issues with ignition switches. Since 2005, these defects led to 56 accidents and 29 deaths. GM was criticized for these defects since these issues were known about years before the recall – but GM avoided the recall to save cash.
The ignition switch recall accounted for over 20% of the 25 million vehicles recalled in 2014. The recall included Chevrolet Cobalts, Chevrolet HHRs, Saturn Ions, Saturn Skys, Pontiac G5s and Pontiac Solstices that were manufactured between 2003 and 2011.
Although the ignition switch recall was the most publicized of all of GM’s recalls, almost 80% of the company’s 2014 recalls were the result of different issues. Almost 30% of the recalls were a result of the ignition rotation, while 9.5% were for brake lamps.
General Motors recalled over 11 million vehicles in June 2014 – more than any other month in 2014. During the month of June, GM issued a 6.8 million vehicle recall and a 3.1 million recall for the ignition switch defect. On average, GM issued a recall every five days in June 2014.
Below is an overview of the 2014 recalls by month.
Below is a full overview of GM’s recalls made in 2014.
|Date||Number of Vehicles||Models||Reason|
|Jan. 13||324,970||2014 Chevrolet Silverado, 2014 GMC Sierra||Overheated exhaust parts|
|Feb. 7||1,367,146||2005-07 Chevrolet Cobalt, 2007 Saturn Sky 2006-07 Chevrolet HHR, 2005-07 Pontiac G5 2006-007 Pontiac Solstice, 2003-07 Saturn ION||Ignition switch|
|Feb. 20||355||2014 Buick Enclave, LaCrosse, Regal & Verano 2014 Chevrolet Cruze, Impala, Malibu 2014 GMC Acadia||Transition shift cable adjuster|
|Mar. 17||1,481,420||2014 Chevrolet Silverado, 2014 GMC Sierra||Overheated exhaust parts|
|Mar. 17||64,559||2013-14 Cadillac XTS, 2014 Cadillac ELR||Brake vacuum booster control|
|Mar. 28||489,936||2014 Chevrolet Silverado, 2014 GMC Sierra 2015 Chevrolet Tahoe & Suburban 2014 GMC Yukon & Yukon XL||Oil cooler fitting|
|Mar. 28||823,788||2013-14 Cadillac XTS, 2014 Cadillac ELR||Brake vacuum booster control|
|Mar. 28||174,046||2013-14 Chevrolet Cruze||Half shaft fracture|
|Mar. 31||1,340,447||2004-06 Chevrolet Malibu, 2004-07 Saturn Ion 2004-06 Malibu Maxx, 2010 Cobalt 2004-06 Pontiac G6, 2009-10 Chevrolet HHR 2008-09 Pontiac G6, 2008-09 Saturn Aura 2008-09 Chevrolet Malibu||Electric power steering|
|Apr. 9||2,191,014||2005-10 Chevrolet Cobalt 2006-11 Chevrolet HHR 2007-10 Pontiac G5, 2006-10 Pontiac Solstice 2003-07 Saturn ION, 2007-10 Saturn Sky||Ignition key cylinder|
|Apr. 19||23,249||2009-10 Pontiac Vibe||Airbags|
|Apr. 24||51||2015 Chevrolet Silverado HD & GMC Sierra HD||Diesel transfer pump|
|Apr. 24||50,571||2013 Cadillac SRX||Acceleration lag|
|Apr. 29||51,640||2014 Chevrolet Traverse, 2014 GMC Acadia 2014 Buick Enclave||Inaccurate fuel gauge|
|Apr. 29||56,214||2007-08 Saturn Aura||Shift cable|
|May 7||8,208||2014 Chevrolet Malibu, 2014 Buick Lacrosse||2014 Chevrolet Malibu, 2014 Buick Lacrosse|
|May 14||2,440,524||2004-12 Chevrolet Malibu, 2007-10 Saturn Aura 2004-07 Malibu Maxx, 2005-10 Pontiac G6||Brake lamps|
|May 14||140,067||2005-07 Chevrolet Corvette||Brake boost|
|May 14||19,225||2014 Cadillac CTS||Windshield wipers|
|May 14||477||2014 Chevrolet Silverado 2015 Chevrolet Tahoe||Steering tie-rod|
|May 14||111,889||2005-07 Chevrolet Corvette||Headlight low beams|
|May 16||1,402||2015 Cadillac Escalade||Passenger airbag|
|May 19||1,339,355||2009-10 Saturn Outlook 2009-14 Chevrolet Traverse 2009-14 GMC Acadia, 2009 Buick Enclave||Front seat belts|
|May 19||1,075,102||2004-08 Chevrolet Malibu, 2005-08 Pontiac G6||Shift cable|
|May 19||58||2015 Chevrolet Silverado HD 2015 GMC Sierra HD||Loose fuse block|
|May 19||218,000||2004-08 Chevrolet Aveo||Daytime running lights|
|May 30||334||2014 Chevrolet Silverado, GMC Sierra 2015 Chevrolet Tahoe & Suburban, GMC Yukon, Cadillac Escalade||Sensing and diagnostic module|
|Jun. 6||33||2014 Chevrolet Corvette||Diagnostic module|
|Jun. 6||57,512||2014 Chevrolet Silverado, 2014 GMC Sierra 2015 Chevrolet Silverado, Chevrolet Tahoe, Chevrolet Suburban GMC Sierra, GMC Tukon||Radio|
|Jun. 6||31,520||2012 Buick Verano, Chevrolet Camaro Chevrolet Cruz & Sonic||Airbags|
|Jun. 6||61||2013-14 Chevrolet Spark, 2014 Buick Encore||Airbags|
|Jun. 11||28,789||2004-11 Saab 9-3 Convertible, 2013-14 Cadillac XTS, 2014 Cadillac ELR||Seat belt retractor & Brake vacuum booster control|
|Jun. 11||21,567||2012 Chevrolet Sonic||Shift cable|
|Jun. 11||14,765||2014 Buick LaCrosse||Driver’s door wiring splice|
|Jun. 13||464,712||2010-14 Chevrolet Camaro||Ignition swich|
|Jun. 16||68,887||2013-14 Cadillac ATS||Shift cable|
|Jun. 16||16,932||2011 Cadillac CTS AWD||Gasket leak|
|Jun. 16||57,192||Chevrolet Silverado 2500 & 3500 2015 GMC Sierra 2500 & 3500||Power steering pump|
|Jun. 16||712||2014 Chevrolet Corvette||Seats|
|Jun. 16||184||2014-15 Chevrolet Silverado & GMC Sierra||Floor mats|
|Jun. 16||7||2014 Chevrolet Corvette||Seats|
|Jun. 16||3,160,725||2005-09 Buick Lacrosse, 2006-14 Chevrolet Impala 2000-05 Cadillac Deville, 2004-11 Cadillac DTS 2004-05 Buick Regal, 2006-08 Chevrolet Mote Carlo, 2006-11 Buick Lucerne||Ignition switch|
|Jun. 27||33,000||2013-14 Chevrolet Cruze||Airbags|
|Jun. 30||554,328||2003-14 Cadillac CTS 2004-06 Cadillac SRX||Ignition rotation|
|Jun. 30||2,990||2011-14 Chevrolet Cruze 2012-14 Chevrolet Sonic 2013-14 Buick Encore and Verano||Engine block power cord|
|Jun. 30||6,805,679||1997-05 Chevrolet Malibu 1998-02 Oldsmobile Intrique, 1999-04 Oldsmobile Alero 1999-05 Pontiac Grand Am, 2000-05 Chevrolet Impala, Monte Carlo 2004-08 Pontiac Grand Prix||Ignition rotation|
|Jun. 30||106||2014 Chevrolet Camaro & Impala, Buick Regal, Cadillac XTS||“Superhold” joint fastener|
|Jun. 30||9,371||2014 Chevrolet Silverado HD, GMC Sierra HD||Electrical overload in fusible link|
|Jun. 30||181,984||2005-07 Buick Ranier, Chevrolet Trailblazer, GMC Envoy Isuzu Ascender, Saab 9-7x, 2006 Chevrolet Trailblazer EXT, GMC Envoy XL||Electrical short in door|
|July 23||120,426||2013 Chevrolet Malibu, 2011-13 Buick Regal||Light bulbs|
|July 23||124,008||2014 Chevrolet Caprice, Chevrolet SS 2014-15 Chevrolet Silverado, Cadillac ATS, CTS & ELR 2013-14 Buick Encore, 2014-15 GMC Sierra||Seat tracks|
|July 23||57,742||2014 Chevrolet Impala||Power steering|
|July 23||1,919||2014-15 Chevrolet Spark||Control arm|
|July 23||22||2014-15 Chevrolet Spark||Roof rails|
|Aug. 11||48,059||2013 Buick Encore, 2013 Cadillac ATS||Seat belts|
|Aug. 11||1,968||2009-10 Chevrolet Aveo, 2009 Pontiac G3||Brakes|
|Aug. 11||202,155||2002-04 Saturn Vue||Ignition switch|
|Aug. 11||1,919||2014 Chevrolet Spark||Control arm|
The number of recalls that GM made in 2014 has made investors immune to the announcements. Although the company’s reputation has been compromised due to the defects and the ignition switch scandal, there has not been a major investor spook. The company did not leave its recalls behind it in 2014. On January 1, 2015, GM announced its first recall of 2015 – recalling over 80,000 vehicles for faulty ignitions.
For more information on recalls, check out The 7 Most Famous Product Recalls: How Did Stock Prices React?
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