NEW YORK (TheStreet) -- General Motors Co. (GM) troubles with safety recalls have surfaced in another case, this time with the company recalling a group of SUVs for a third time to fix power window switches that can catch fire, the Associated Press reports.
The problem, revealed in documents posted by federal safety regulators this week, is so serious that GM is telling customers to park the SUVs outdoors until they are repaired because they could catch fire when left unattended, according to the AP.
Parts won't be ready until October at the earliest, according to GM. The automaker also has ordered its dealers to stop selling the SUVs as used cars until they are fixed.
The recall covers about 189,000 vehicles in North America, mainly from the 2006 and 2007 model years. Models affected include the Chevrolet TrailBlazer, GMC Envoy, Buick Rainer, Isuzu Ascender and Saab 97-X. The recall was one of six announced by GM on June 30 that covered 7.6 million vehicles, AP said.
Shares of General Motors are slightly higher in pre-market trade.
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 some important positives, 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 and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."