A record fine of $35 million U.S. will be paid out by GM after a government investigation into how GM handled the recall of 2.59 million vehicles over faulty ignition switches. GM’s agreement with regulators also includes significant changes into how the automobile manufacturer reviews safety problems and decides when to issue a recall.
- G.M. will be required to meet monthly with regulators and provide a list of every safety problem under consideration, as well as report on any new communications with their dealers.
- The company must also improve information sharing across its different units, make recall decisions more quickly and revise its analysis practices to improve the ability to identify safety issues.