GM Recalls 7.6 Million Cars for Ignition Switches - KTVN Channel 2 - Reno Tahoe News Weather, Video -

GM Recalls 7.6 Million Cars for Ignition Switches

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General Motors is recalling at least 7.6 million more vehicles dating back to 1997 to fix faulty ignition switches as the company's safety crisis continues to grow.
 
The latest recalls involve mainly older midsize cars and bring GM's total number of recalls this year to over 28 million. The company says it is aware of three deaths, eight injuries and seven crashes involving the vehicles recalled on Monday. GM says it has no conclusive evidence that faulty switches caused the crashes.
 
The company says it expects to take a $1.2 billion charge in the second quarter for recall-related expenses.
 
It is urging people to remove everything from their key rings until their cars can be repaired.

Meanwhile, the man in charge of compensating victims of crashes in small GM cars is prepared to pay out billions of dollars -- to those who can prove that the cars' faulty ignition switches caused the crash.

Kenneth Feinberg, one of the country's top compensation experts, outlined the details of the plan today in Washington.
 
He says GM has placed no limit on the total amount he can pay to injured people, or to relatives of those who were killed. And even though he's being paid by GM, he says he alone -- and not the company -- will decide how much money each person can get.
 
Feinberg isn't estimating the ultimate cost to GM, saying he has no idea how many death or injury claims he will get.
 
With the compensation plan, GM is trying to limit its legal liabilities, control the damage to its image and eventually move beyond the crisis caused by its failure to correct the ignition switch problem for more than a decade. During that time, the company learned of fatal crashes. This year, it recalled 2.6 million older small cars to replace the switches.
 
The company says the defective ignition switch is linked to 13 deaths. But trial lawyers and lawmakers say the claims for wrongful death and injury could total in the hundreds.   (AP)

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