• Steve H. Hanke
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GM Announces Another 718K Recalls, Bringing 2014 Total To Nearly 30 Million

Tyler Durden's picture




 

It had been almost a month without a GM recall announcement of some sort. So, as many knew was long overdue three weeks into the second half, GM just did what it truly excels in (aside from being bailed out by taxpayers at a massive loss): admit that it had skimped on the quality control and safety check of  another 717,950 cars, all of which were new models bult 2010 and later including Camaro, Equinox, Caprice, Regal, Malibu and so on. In other words, all cars built after GM emerged from bankruptcy. This bring the total number of recalls year to date to a ludicrous 29.2 million around the globe, or well over three time the total number of cars sold in the past three years.

The reasons for the recall? Numerous, but some amusing ones stand out:

  • A loss of power to a laser welding machine may have resulted in an incomplete weld in the seat hook bracket
  • The bolt that secures the height adjuster actuator may become loose or fall out. If the bolt falls out, the seat will move up and down freely because it is no longer attached at the height adjuster
  • Steering control can be maintained because the vehicle will revert to manual steering mode, but would require greater driver effort particularly at low vehicle speeds.
  • Separation of the lower control arm from the steering knuckle while driving could resulting in loss of steering control

And so on. But aside from the stock miraculously not soaring on this latest batch of great news, we expect that deadbeat GM consumers, armed to the teeth with those subprime loans we reported on over the weekend, will have no problem with the prospect of driving a free and paid for (by the government) car which may just transform into an uncontrollable 2 ton paperweight at 65 mph. Call it the "excitement from instant death risk" option (included free in every car).

Total YTD recalls vs GM car sales in the past three years and historical recalls:

 

And the full list of GM recalls in 2014 alone, also known in a few years as "Evidence A":

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Wed, 07/23/2014 - 14:41 | 4994256 COSMOS
COSMOS's picture

Can we recall all our manufacturing assembly lines from China?  Might be a good excuse to get our equipment back.

I like this recall reason 'Separation of the lower control arm from the steering knuckle while driving could resulting in loss of steering control' it exemplifies the state our nation.  Totally out of steering control.   Going fast and going to CRASH

Wed, 07/23/2014 - 14:51 | 4994330 Berspankme
Berspankme's picture

BinLaden is dead and GM is alive- well sort of alive

Wed, 07/23/2014 - 15:07 | 4994390 lordylord
lordylord's picture

If the free market works so well, then why doesn't GM go bankrupt?  Answer that you stupid libertarians.  This is obviously just another example of the free market failing.  If the government would intevene, there wouldn't be this recall problem.  We need MORE government NOW!

Wed, 07/23/2014 - 15:15 | 4994479 COSMOS
COSMOS's picture

Still no where near the number of recalls the F35 has had LOL

Wed, 07/23/2014 - 15:26 | 4994540 Bearhug Bernanke
Bearhug Bernanke's picture

You sound like a pleasant person to be around.

Wed, 07/23/2014 - 15:45 | 4994637 lordylord
lordylord's picture

"You sound like a pleasant person to be around."

My humor depends greatly on the quality of my companyAnyway, I thought I laid the sarcasm pretty thick.

Wed, 07/23/2014 - 16:07 | 4994751 Pool Shark
Pool Shark's picture

 

 

GM Engineer: "First, I have visions. Then, I have revisions."

 

 

Wed, 07/23/2014 - 16:15 | 4994790 Moe Howard
Moe Howard's picture

Not thick enough for this crowd. Better use the /sarc tag.

Wed, 07/23/2014 - 15:14 | 4994474 BorisTheBlade
BorisTheBlade's picture

Zombie-style alive.

Wed, 07/23/2014 - 16:16 | 4994795 Moe Howard
Moe Howard's picture

Is it possible to bury GM at sea? Quietly, without any video or photos? Please?

Wed, 07/23/2014 - 15:59 | 4994710 Kirk2NCC1701
Kirk2NCC1701's picture

Slo-mo, reverse takeover. Chinese style:  Let GM stock go down the tubes, take over cheap.

Ditto for Detroit RE.  The Chinese are the biggest RE buyers in the city.  Coincidence?  I think NOT!

Great geographic location, and inside track to US automotive industry.  Especially when the Chinese clean house and start makin/importing Chinese cars.

Wed, 07/23/2014 - 14:39 | 4994264 RiskyBidness
RiskyBidness's picture

yet look at the fuckin stock price.  Almost $38 a share.  This should be a pink slip!!

Wed, 07/23/2014 - 14:44 | 4994295 disabledvet
disabledvet's picture

Treasuries are rallying...sounds likes fine time to issue 100 billion in debt after having thrown all the bondholders under the bus in 2008.

Heck they could probably back by the warranty claims!

Wed, 07/23/2014 - 14:39 | 4994268 CheapBastard
CheapBastard's picture

Can it get any more Bullish? Krugman is getting a Hardon.

Wed, 07/23/2014 - 14:40 | 4994269 101 years and c...
101 years and counting's picture

Don't miss your chance to own a piece of shit that will be recalled in 3-5 years.  Don't like your wife and want her out of the way?  Buying her a Chevy is a great way to speed up the path to making yourself a widow.  

Wed, 07/23/2014 - 16:14 | 4994783 Moe Howard
Moe Howard's picture

Widower. Sorry for the "anal" correction.

Wed, 07/23/2014 - 14:40 | 4994271 buzzsaw99
buzzsaw99's picture

total recall. the irony, it burns.

Wed, 07/23/2014 - 14:54 | 4994352 Lewshine
Lewshine's picture

Anyone who owns a GM vehicle, by definition, shows the world they know absolutely nothng about vehicle quality.

Wed, 07/23/2014 - 15:02 | 4994395 Bay of Pigs
Bay of Pigs's picture

Bailout Nation. Epic Fail.

Wed, 07/23/2014 - 15:41 | 4994623 Freddie
Freddie's picture

They are big retards like Obama voters aka Democrats.  Yeah the GOP-e sucks too.

Wed, 07/23/2014 - 22:45 | 4996457 StychoKiller
StychoKiller's picture

Truly, you put in an Oscar-winning performance in that movie!

Wed, 07/23/2014 - 14:41 | 4994273 NOTaREALmerican
NOTaREALmerican's picture

Just give everybody a new car,  on the house.

Wed, 07/23/2014 - 14:47 | 4994311 passenger_pidgin
passenger_pidgin's picture

Subsidy? - check.  Broken windows? - check.  Population reduction? - check.  You might have a future at a think tank, my good Merican.

Wed, 07/23/2014 - 15:08 | 4994430 yogibear
yogibear's picture

That would put people to work, better than the banksters getting bailed out

Wed, 07/23/2014 - 14:40 | 4994274 Zero Govt
Zero Govt's picture

GM's been run (down) by the Unions for years

they wrecked Detroit ...it's just a matter of clock watching on this one too

Wed, 07/23/2014 - 14:40 | 4994279 NOTaREALmerican
NOTaREALmerican's picture

So management had nothing to do with it?

Wed, 07/23/2014 - 15:52 | 4994669 Freddie
Freddie's picture

GM was never great but when Obama gave it to the UAW and filled it with govt todies in mgmt - it got exponentially worse.

Wed, 07/23/2014 - 15:19 | 4994507 Wannabee
Wannabee's picture

Dude, you are blaming the Aztec on the unions? Any mgmt team that approved that POS should be tarred & feathered...

Wed, 07/23/2014 - 15:26 | 4994537 Buckaroo Banzai
Buckaroo Banzai's picture

The Aztec is a quality product compared to the pieces of shit GM has been pumping out the last 5 years.

Wed, 07/23/2014 - 17:56 | 4995251 Make_Mine_A_Double
Make_Mine_A_Double's picture

That's pretty harsh.

I had a Hertz give me an Aztec at SFO years ago. Only had like 200+ on the odometer and it was ready for bone yard.

But - oh the stylin'!! Trabat meets Astro Van!  

Wed, 07/23/2014 - 14:41 | 4994276 krispkritter
krispkritter's picture

Zero down. Zero payments. Zero safety. At least the recall fixes will be easy to accomplish, most of those cars are still stuffed on the dealer's lots.

Wed, 07/23/2014 - 14:40 | 4994277 aardwolf
aardwolf's picture

LOL America you are beyond parody now. It's so sad, because apart from the genocide you were founded on some of you had some nice ideas about free speech and debt free money about 200 years ago...but since 1913 yo've just been another Zionist controlled hellhole like my native UK...poor guys can't even make a car anymore...but at least you've got Tesla... my country is just an island of tax dodging accountants run by a bunch of paedophiles.... at least Obama doesn't fuck kids like Edward Heath and David Cameron do...he might be homosexual but trust me...our former home secretary Leon Brittan was caught raping a 12 year old boy on VHS tape in Dover in 1982 but it was kept under the official secrets act for over 30 years!!!

 

All the best America...just be thankful you're not run by kiddie fiddlers like the UK ;(

Wed, 07/23/2014 - 15:10 | 4994294 COSMOS
COSMOS's picture

LOL you must be sarcastic, ' you still have TEsla'  yeah run by that dual citizen Elon Musk, and have you seen the Tesla burn?  I hear it has white phosphorus in the batteries LOL.  Also dont forget Tesla lives off of Govt subsidies and loan guarantees just like GM

Wed, 07/23/2014 - 14:44 | 4994296 Kaiser Sousa
Kaiser Sousa's picture

thanks...
that should make them feel better.

Wed, 07/23/2014 - 14:44 | 4994301 NOTaREALmerican
NOTaREALmerican's picture

Re:  VHS tape in Dover in 1982

This is a lie.   Margaret Thatcher,  one of the world's greatest free-market conservatives EVER, would never have allowed for such immorality.   She would have castrated him, personally, for such transgressions; so obviously, it couldn't have happened!  

Wed, 07/23/2014 - 14:48 | 4994314 jay28elle
jay28elle's picture

I'd have given you a Vote Up if you weren't so obsessed with kiddie fiddlers.  

Wed, 07/23/2014 - 14:41 | 4994280 pods
pods's picture

What a joke.  MF'n taxpayas had to get paid somehow?

I think I saw Michael Keaton in this movie before?

http://www.imdb.com/title/tt0091159/?ref_=nm_flmg_act_53

pods

Wed, 07/23/2014 - 14:45 | 4994299 krispkritter
krispkritter's picture

Looks more like a 'Gang Bang' and we're on the receiving end.

Wed, 07/23/2014 - 14:42 | 4994282 passenger_pidgin
passenger_pidgin's picture

Not actually the worst news for GM.  Most of the cars are still sitting on dealer lots, anyhow.

Wed, 07/23/2014 - 14:52 | 4994345 Berspankme
Berspankme's picture

easy to find eh?

Wed, 07/23/2014 - 16:16 | 4994789 hidingfromhelis
hidingfromhelis's picture

I guess it does count as a recall for those sitting on dealer lots, as they've been recorded as "sold."  Channel stuffing FTW!

Wed, 07/23/2014 - 14:42 | 4994284 The Most Intere...
The Most Interesting Frog in the World's picture

This is their new sales strategy.  Bring your old useless piece of shit GM in and exchange it for a new worthless piece of shit GM.  Channel unstuffed!!!

Wed, 07/23/2014 - 14:50 | 4994324 disabledvet
disabledvet's picture

I was kinda thinking the same thing actually. "Does this recall include cars
just produced?" How about those currently in production?

Is robot 64327 down again?

Wed, 07/23/2014 - 15:10 | 4994378 COSMOS
COSMOS's picture

Typical management ploy, first blame the union worker, then when he is gone blame the robot.

The problem is and always has been corporate management, that is why this country is going to shit.  We have allowed monopolies and too much corporate power to the point where our voices are not heard by the politicians who cater only to corporate handouts

Wed, 07/23/2014 - 14:43 | 4994287 jay28elle
jay28elle's picture

ho, hum.... GM articles are just soooo boring anymore. Need some good news for a change.  How 'bout, "New CEO quits", or "GM Board replaces new CEO..."?

Wed, 07/23/2014 - 14:44 | 4994293 Bastiat
Bastiat's picture

Before long they won't even be able to dump this crap on car rental companies for a loss! 

Wed, 07/23/2014 - 14:46 | 4994302 Dagny Taggart
Dagny Taggart's picture

If they recalled almost all the cars made since bankruptcy, do we really know they built them at all? Couldn't they be channel stuffing on paper the way the Fed prints money - you know, put out a few physical widgets for show and cook the books on the rest? Perhaps those images of cars on storage lots were all CGI?

Wed, 07/23/2014 - 14:51 | 4994332 disabledvet
disabledvet's picture

Maybe we're gonna get some Obama cars here?

Wed, 07/23/2014 - 16:26 | 4994843 hidingfromhelis
hidingfromhelis's picture

Can I cash out my MYRA for a MYGM without any tax consequences?*

*Physical consequences of owning a Kevorkianesque rolling sarcophagus notwithstanding.

Wed, 07/23/2014 - 14:53 | 4994354 NotApplicable
NotApplicable's picture

Of course they made them. Investment in malinvestment is a "jobs program."

Keynesian 101.

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