GM to Recall 1.46 Million Cars in Chinese Market

Wayne Ellis

Chinese Flag in Shape of China

GM to Recall 1.46 Million Cars in Chinese Market (Reuters)

One day after both Volkswagen AG and General Motors announced they would surpass 3 million cars sold in China this year, with Volkswagen leading by some 70,000 units, GM’s Chinese business affiliate, Shanghai General Motors Co Ltd., reported plans to recall 1.46 million cars because of a faulty fuel pump bracket. In addition, Ford Motor Co. announced it will recall some 81,000 autos through its Chinese partner, Chongqing Changan Automobile Co Ltd. If you’ve been thinking about buying GM’s shares, they are slightly discounted this morning after falling more than 1 percent since the market’s open today. Despite rising sales for VW’s Chinese unit, it has not been immune from auto-related bugs either. The VW unit in China last month recalled about 640,000 vehicles to ensure that they used the appropriate oil to avoid gearbox-related electronic flaws. The same VW unit also took more than 200,000 Tiguan compact sport-utility vehicles off the road due to a risk of a partial light malfunction.

Exclusive  Cannabis Corner: Widen Your Horizons

Like This Article?
Now Get Mark's FREE Special Report:
3 Dividend Plays with Sky-High Returns

This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.

Get Access to the Report, 100% FREE


img
previous article

Investing requires triangulating multiple streams of data to make decisions; that’s why each Christmas season I walk the malls.

PREMIUM SERVICES FOR INVESTORS

Dr. Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

Product Details

LEARN MORE HERE

Bryan Perry

A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.

Product Details

LEARN MORE HERE

Jim Woods

Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:

Product Details

LEARN MORE HERE

Bob Carlson

Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.

Product Details

LEARN MORE HERE

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers:

Product Details

LEARN MORE HERE

Jon Johnson

Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services:

Product Details

LEARN MORE HERE

DividendInvestor.com

Used by financial advisors and individual investors all over the world, DividendInvestor.com is the premier provider and one-stop shop for dividend information and research.

Product Details

Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.

LEARN MORE HERE