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General Motors to Recall Vehicles in China to Fix Engine Valve

Zacks Equity Research
Updated

General Motors Company’s GM main Chinese joint venture, SAIC Motor Corp Ltd announced that it will be recalling 2.2 million vehicles in China from Aug 15 onward. SAIC Motor Corp Ltd is a joint venture between General Motors and state-owned Shanghai Automotive Industries Corp.

SAIC Motor is recalling the vehicles as their engine crankcase valves may corrode. The recall was announced after the automaker received complains about engine damage.

The vehicles covered under this recall mainly include 834,000 Buick Excelle vehicles, 1.1 million Chevrolet Cruzes, 159,000 Chevy Epicas and 18,000 Chevy Aveos. General Motors will be replacing the affected valves free of cost.

The auto industry is under pressure due to a series of recalls by different companies. Safety recalls dent the brand image of a company and add to expenses. Recently, Ford Motor Co. F announced that it is recalling around 48,700 EcoSport sport-utility vehicles (SUVs) in India. The automaker issued this recall to repair the faulty fuel and brake lines, and rear folding seats in these vehicles.

Last month, Toyota Motor Corporation TM announced that it is recalling around 60,000 automobiles in North America due to faulty front passenger airbags, which may fail to deploy in the event of a crash. This poses the risk of injury to front seat passengers of the cars.  

Honda Motor Co., Ltd. HMC is recalling 143,000 vehicles in Japan as their airbags are equipped with faulty inflators produced by Daicel Corp., according to sources. One such airbag failed to deploy in a crash, leading the automaker to issue the recall.

General Motors currently carries a Zacks Rank #3 (Hold).

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FORD MOTOR CO (F): Free Stock Analysis Report
 
HONDA MOTOR (HMC): Free Stock Analysis Report
 
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
 
GENERAL MOTORS (GM): Free Stock Analysis Report
 
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Zacks Investment Research