NEW YORK (TheStreet) -- Shares of General Motors Co. (GM) are down -0.53% to $37.24 as the automaker is making a recall exception for rusting brake lines in almost 1.8 million pickups and SUVs, Bloomberg reports.
"Much like it did initially with flawed ignition switches in small cars linked to at least 13 deaths, GM says the corroded lines aren't a safety hazard that requires a recall. Even with at least 26 crashes, three injuries and a four-year-old probe by the National Highway Traffic Safety Administration, GM is characterizing potential brake failure as normal wear-and-tear," Bloomberg said.
The automaker says it's up to owners to make sure rust won't lead to a catastrophic failure.
TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."