NEW YORK (TheStreet) -- General Motors Co. (GM) told car dealers to stop selling the 2015 Chevrolet Corvette while the company investigates two possible issues with the sports car.
GM is looking into whether or not 800 Corvettes were built with only one of two rear-parking break cables in place and engaged, and if a bad part attaching the airbag to the steering wheel was used in another 2,000 cars, Reuters reports.
GM did not issue a public recall of the 2015 Corvette, and didn't say if a recall would be coming later. There is usually a delay of several days between finding a problem and issuing a recall, Reuters noted.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
The company suspects that a few of the cars with these issues were already sold to customers, and GM has temporarily suspended shipments to dealers.
Shares of General Motors are lower by 0.54% to $33.43 in mid-morning trading on Friday.
Separately, 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 few notable 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 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."