GM faces resale value lawsuit


General Motors (GM) faces a fresh lawsuit from a group of car owners seeking money to cover the lost resale value of their vehicles due to the ignition switch recall crisis.

The complaint tabulates a loss in value of up to $10B for vehicles involved in GM's 40 recalls this year.

GM CEO Mary Barra testified yesterday in front of a House hearing that the company had no plans to reimburse GM car owners for lost value.

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Comments (11)
  • funfundvierzig
    , contributor
    Comments (4375) | Send Message
     
    The covert, if not secret criminal actions and cover-ups of General Motors Management and engineers effectively slashes the resale or trade-in value of deadly defective GM cars. And now GM Management refuses to stand behind their shoddy products and redress the loses of their duped customers! The stain on reputation, the blemishing of the GM brand goes on and on. We won't even mention the blemishing of the Barra brand.

     

    …funfun..
    19 Jun 2014, 07:42 AM Reply Like
  • Mark Kusnir
    , contributor
    Comments (267) | Send Message
     
    Is increasing sales Y/Y a sign of brand-value erosion?
    19 Jun 2014, 08:01 AM Reply Like
  • JDoe20
    , contributor
    Comments (1326) | Send Message
     
    You are a liar as evidenced by your last sentence:

     

    "We won't even mention the blemishing of the Barra brand."

     

    Clearly you did. If you would just stick to facts to make your point and quit the smears, people might take you seriously
    19 Jun 2014, 09:44 AM Reply Like
  • funfundvierzig
    , contributor
    Comments (4375) | Send Message
     
    We have no intention of slinking away in silence because of the systematic harassment by hecklers frantic to protect GM Management.

     

    And yes, indeed and in fact, the Barra brand has been blemished, even earning a mockery before tens of millions of viewers on Saturday Night Live in April after her comical and unconvincing show on Capitol Hill. That's a big-time blemish, folks. It's very difficult for millions of Americans to take Ms. Barra and her inept under-bosses at the Bank of America of auto-makers seriously.

     

    …funfun..
    19 Jun 2014, 11:08 AM Reply Like
  • ozziepdx
    , contributor
    Comments (2) | Send Message
     
    Increasing sales number can be deceiving. This recall is bringing in plenty of people to the showroom not to look at new product offerings, but to see if they have anything to be concerned about on the massive recalls.
    It is my bet, and I've said this in earlier posts, that GM is likely offering added incentives to take those cars off the street and put people into new cars, charging more to the recall then they admit are incentives. Dealers are converting existing GM owners to new cars on the bad news. I would suspect you don't have many Ford or Toyota owners changing to GM at this time, so basically, you are eating your young. With historically low finance rates, and extended payments now stretching out to 7 years, suspect hidden incentives buried in the recall expense which continues to expand, this problem is far far from over. Never mind the ethical question that car buyers need to ask themselves. Even the touted 2014 Impala, car of the year, is affected.
    19 Jun 2014, 12:42 PM Reply Like
  • lemm
    , contributor
    Comments (1153) | Send Message
     
    ozziepdx,Do you have any proof of this, or any other info. on this?
    21 Jun 2014, 03:01 PM Reply Like
  • jimmydell
    , contributor
    Comments (20) | Send Message
     
    Well I guess that it's pointless to continue this discussion now that the folks at SNL have weighed in. Pointless because we all know that their mission is solely to shine the light of truth on all things. Further for them to portray anybody in the corporate world as a crook or a buffoon would be beyond their style.
    24 Jul 2014, 12:22 PM Reply Like
  • funfundvierzig
    , contributor
    Comments (4375) | Send Message
     
    Remarkably, folks, zealous fans of GM Management believe their idolized "leaders" should be held beyond all satire, much less accountability and credibility! They are in a state of denial that the Barra brand has been blemished and the Company itself has suffered a disastrous disreputation.

     

    Moreover, it appears that foreign car buyers may have begun to take into account the massive consumer fraud perpetrated for over a decade in the United States. Are there deadly defects in millions of those GM cars produced and sold abroad, which share the same engineering, design and parts with their America counterparts? And that does not augur well for long-suffering GM shareholders.

     

    …funfun..
    24 Jul 2014, 01:20 PM Reply Like
  • jimmydell
    , contributor
    Comments (20) | Send Message
     
    Would not the recall and correction of the defect assure that there was no "loss of resale value"?
    19 Jun 2014, 07:49 AM Reply Like
  • Remford
    , contributor
    Comments (134) | Send Message
     
    No wonder GM is trying so hard to return to the warm bosom of bankruptcy protection to have any such claims estopped. It'll have a hard time explaining its inaction from 2009 onward though.
    19 Jun 2014, 08:34 AM Reply Like
  • BradyStreet414
    , contributor
    Comments (19) | Send Message
     
    Exactly. The litigious nature of American society is all to quickly the answer to everything.
    19 Jun 2014, 09:03 AM Reply Like
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