General Motors Co. will probably create a fund of as much as $3 billion to pay claims associated with an ignition-switch flaw the automaker said is linked to the deaths of 12 people, a Barclays analyst wrote this week.
General Motors Co. Chief Executive Officer Mary Barra apologized for the lives lost in accidents linked to an ignition defect and pledged an aggressive probe into why a recall took so long, in her boldest effort yet to limit damage from safety lapses at the largest U.S. automaker.
The cars at the center of General Motors Co.’s February recall were still on the drawing board when a top engineer gathered more than a dozen managers and delivered a fateful message: Build them for less.
General Motors Co. Chief Executive Officer Mary Barra, speaking to the press for the first time about the recall of 1.6 million compact cars, apologized for the “loss of life” and said there will be “no sacred cows” in the investigation.
General Motors Co., which plans 15 new or refreshed vehicles in the U.S. this year and 17 in China, forecast profit to “modestly” improve in 2014 as the automaker spends money to restructure nagging trouble spots overseas.