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General Motors (GM) Recalls 300K+ Vehicles Amid Tailgate Woes
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General Motors (GM - Free Report) has issued a recall affecting 323,232 vehicles due to safety concerns related to the tailgate mechanism. The National Highway Traffic Safety Administration (NHTSA) has highlighted a potential issue where the electronic gate-release system could unlatch the tailgate while the vehicle is in motion, posing a significant road hazard and increasing the risk of a crash. This recall encompasses certain models of Chevrolet Silverado and GMC Sierra trucks manufactured between 2020 and 2024.
The affected models include the Chevrolet Silverado 2500 and 3500, as well as the GMC Sierra 2500 and 3500. The problem extends to the gate potentially unlocking even when the truck is parked, adding another layer of risk. General Motors received numerous complaints regarding this "unwanted tailgate opening" between Sep 1, 2020, and Aug 1, 2023.
General Motors made the decision to initiate a safety recall on Jan 25, approximately 20 days after concluding an analysis of field incidents potentially related to the issue. Owners of the affected trucks have been advised to ensure that the tailgate is securely closed and latched before driving until they receive formal notification of the recall, which is expected by Mar 18.
The inspection and repair of the affected exterior switch pad assemblies will be performed at no cost to the customer. However, due to the unavailability of necessary parts, owners will be notified by dealers once they become accessible, according to the NHTSA.
The company has been facing several recall issues in recent months. In December, a recall was issued for 2024 Chevrolet Silverado and GMC Sierra pickup trucks due to concerns about mysteriously cracking roofs, affecting over 3000 models.
Early last month, the Chevrolet Blazer EV was also subject to a recall due to potential door striker fractures, affecting a limited number of vehicles. This issue was traced back to improper heat treatment of parts manufactured by the Brano Group, leading to an elevated risk of failure.
Additionally, General Motors recalled several BrightDrop all-electric delivery vans following incidents where front drive units caught fire. A total of 66 of the 2022 model year EV600 BrightDrop delivery trucks were recalled last month due to a manufacturing defect in the front drive unit.
These recalls underscore the importance of proactive safety measures in the automotive industry. General Motors is taking necessary steps to address these issues promptly and ensure the safety of its customers.
Zacks Rank & Key Picks
General Motors currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for GT’s 2024 sales and earnings suggests year-over-year growth of 2.7% and 2,152.6%, respectively. The EPS estimate for 2024 has improved by 15 cents in the past 30 days. Goodyear has a Value Score of A.
The Zacks Consensus Estimate for PCAR’s 2024 and 2025 EPS has improved by 51 cents and 34 cents, respectively, in the past 30 days. The company surpassed earnings estimates in the trailing four quarters, the average surprise being 17.1%. PACCAR has a Value Score of A.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 6.7% and 4%, respectively. The consensus estimate for 2024 EPS has improved by 8 cents in the past seven days. Oshkosh has a Value Score of A.
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General Motors (GM) Recalls 300K+ Vehicles Amid Tailgate Woes
General Motors (GM - Free Report) has issued a recall affecting 323,232 vehicles due to safety concerns related to the tailgate mechanism. The National Highway Traffic Safety Administration (NHTSA) has highlighted a potential issue where the electronic gate-release system could unlatch the tailgate while the vehicle is in motion, posing a significant road hazard and increasing the risk of a crash. This recall encompasses certain models of Chevrolet Silverado and GMC Sierra trucks manufactured between 2020 and 2024.
The affected models include the Chevrolet Silverado 2500 and 3500, as well as the GMC Sierra 2500 and 3500. The problem extends to the gate potentially unlocking even when the truck is parked, adding another layer of risk. General Motors received numerous complaints regarding this "unwanted tailgate opening" between Sep 1, 2020, and Aug 1, 2023.
General Motors made the decision to initiate a safety recall on Jan 25, approximately 20 days after concluding an analysis of field incidents potentially related to the issue. Owners of the affected trucks have been advised to ensure that the tailgate is securely closed and latched before driving until they receive formal notification of the recall, which is expected by Mar 18.
The inspection and repair of the affected exterior switch pad assemblies will be performed at no cost to the customer. However, due to the unavailability of necessary parts, owners will be notified by dealers once they become accessible, according to the NHTSA.
The company has been facing several recall issues in recent months. In December, a recall was issued for 2024 Chevrolet Silverado and GMC Sierra pickup trucks due to concerns about mysteriously cracking roofs, affecting over 3000 models.
Early last month, the Chevrolet Blazer EV was also subject to a recall due to potential door striker fractures, affecting a limited number of vehicles. This issue was traced back to improper heat treatment of parts manufactured by the Brano Group, leading to an elevated risk of failure.
Additionally, General Motors recalled several BrightDrop all-electric delivery vans following incidents where front drive units caught fire. A total of 66 of the 2022 model year EV600 BrightDrop delivery trucks were recalled last month due to a manufacturing defect in the front drive unit.
These recalls underscore the importance of proactive safety measures in the automotive industry. General Motors is taking necessary steps to address these issues promptly and ensure the safety of its customers.
Zacks Rank & Key Picks
General Motors currently carries a Zacks Rank #3 (Hold).
Some top-ranked players in the auto industry are Goodyear Tire (GT - Free Report) , PACCAR (PCAR - Free Report) and Oshkosh Corporation (OSK - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GT’s 2024 sales and earnings suggests year-over-year growth of 2.7% and 2,152.6%, respectively. The EPS estimate for 2024 has improved by 15 cents in the past 30 days. Goodyear has a Value Score of A.
The Zacks Consensus Estimate for PCAR’s 2024 and 2025 EPS has improved by 51 cents and 34 cents, respectively, in the past 30 days. The company surpassed earnings estimates in the trailing four quarters, the average surprise being 17.1%. PACCAR has a Value Score of A.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 6.7% and 4%, respectively. The consensus estimate for 2024 EPS has improved by 8 cents in the past seven days. Oshkosh has a Value Score of A.