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GM announces recall of 59K Saturn vehicles

  • General Motors (GM +0.8%) says it's recalling over 59K Saturn Aura vehicles to address a potential problem with the transmission shift cable.
  • All of the recalled vehicles are in the U.S. or Canada.
  • NHTSA recall notice
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Comments (9)
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    So far, not even half way thru 2014, we had - if memory serves - now SEVEN recalls?

     

    There seems to be no end to these... Another reason to avoid GM + look for better (scandal-free) investments elsewhere.
    6 May, 10:41 AM Reply Like
  • funfun
    , contributor
    Comments (2566) | Send Message
     
    What needs to be recalled and permanently retired from service is hundreds of higher level executives in this intractably unethical car conglomerate.

     

    It's one recall after another, one defect after another. Hardly inspires would-be car buyers or would-be GM share buyers. …funfun..
    6 May, 10:58 AM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1264) | Send Message
     
    When was the last Saturn built ?

     

    Didn't they sell Saturn to Penske ?
    6 May, 11:17 AM Reply Like
  • Snoopy1
    , contributor
    Comments (1115) | Send Message
     
    Exactly Captain, that's why GM stock is up today. It's a non-issue for new GM car buyers and the current offerings are very competitive. GM's valuation more than reflects the recall issue, which has not had any negative impact on GM U.S. sales.

     

    "Be greedy when others are fearful"
    -- Warren Buffett
    6 May, 12:09 PM Reply Like
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    GM stock UP on 7th recall.

     

    Overheard wag's comment:
    A few more recalls + GM will hit 40.

     

    Or =
    Any stock manipulation worth investigating by SEC, others?
    6 May, 12:10 PM Reply Like
  • Snoopy1
    , contributor
    Comments (1115) | Send Message
     
    @Budavar, GM shares are undervalued because of irrational fear which smart investors take advantage of. Do you really not understand this?

     

    At what price do you think GM shares are a good risk/reward and how do you determine that price?
    6 May, 12:16 PM Reply Like
  • Budavar
    , contributor
    Comments (1387) | Send Message
     
    Dear Snoopy = for 60+ years I look at least three metrics:

     

    1. Management = Just look at the monster GM headquarters building
    oozing grandiosity, pomp + circumstance = when on Wall Street, I routinely visited the top banana. Now in Florida, I observe testimonies in front of Congress, manipulated statistics on sales + other inconvenient aspects of management.

     

    2. Tech charts = I see now both the 100 + 200 moving average price lines were broken recently = a red flag. Down days usually with higher volume than up days = another red flag. Poised for a free fall?

     

    3. Competition = undisputed ferocious = not standing still but doing their thing, often much better.

     

    From above I conclude - another bankruptcy is not out of the realm of possibilities. The risk/reward ratio is not favorable, much better opportunities elsewhere.

     

    In above circumstances it would be foolhardy to determine a price.

     

    Trust this helps. Good luck with your investing!
    6 May, 12:54 PM Reply Like
  • funfun
    , contributor
    Comments (2566) | Send Message
     
    The big bosses at GM are so busy these days playing Ring-Around-the-Rosey Recall, they barely have time to meet with their legions of lawyers to prepare their criminal defences! …funfun..
    6 May, 01:05 PM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1264) | Send Message
     
    Oh wait the Penske deal never happened, because Saturn was worthless much like GM.

     

    They bankrolled their entire company on the success of Saturn, distracting and taking away resources from profitable GM operations in support of something designed more for employees rather than consumers.

     

    If GM is up, it's probably more from a dead cat bounce.

     

    Recalls are not good for business.

     

    Failing to recall known problems even worse.
    6 May, 01:23 PM Reply Like
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