Update (3:15 p.m.): Updated with current market price information.
The company announced a recall of 2.42 million vehicles in the U.S., which increases the total of GM vehicles recalled this year to more than 15 million. GM also said it would double the charge it expects to take in the second quarter to approximately $400 million, primarily due to repairs related to recalls.
GM said four recalls cover this latest round of affected vehicles. This increases the number of U.S. recalls this year to 29, including the much-publicized recall of 2.6 million vehicles to correct defective ignition switches tied to at least 13 deaths. The automaker said there have been no fatalities associated with the latest recalls.
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The breakdown of the four recalls is as follows:
1) 1.34 million 2009 to 2014 Buick Enclave, Chevrolet Traverse and GMC Acadia full-size crossovers and 2009 to 2010 Saturn Outlooks for a potential front safety lap belt issue.
2) 1.075 million 2004 to 2008 Chevrolet Malibus for a transmission cable concern.
3) 1,400 2015 Cadillac Escalades and Escalade ESVs for a heated plastic weld connected to the passenger side air bag.
4) 58 2015 Chevrolet Silverados and GMC Sierra pickups for an isolated issue related to retention clips.
The stock was down 3.3% to $33.12 at 3:13 p.m.