NEW YORK (TheStreet) -- General Motors Co. (GM) told Cadillac dealers to stop selling some versions of the Cadillac CTS model-range because the automaker does not have a fix yet for cars recalled in late June over an issue where engines can be shut off if the driver's knee bumps the ignition key, the company said on Saturday, Reuters reports.
The stop sale order to Cadillac dealers on the 2003-2014 CTS and 2004-2006 SRX was issued July 2 and updated July 8, according to GM documents posted by the National Highway Traffic Safety Administration.
The recall involved about 554,000 Cadillacs in the U.S.
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 a number of strengths, 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 and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."