Class-action suit against GM estimated at $10B
Issues continue to pile up against General Motors with the filing of a class-action lawsuit valued at as much as $10 billion.
The lawsuits and negative reports, however, don’t appear to be hurting sales of GM vehicles. Projections show GM sales up for July over July 2013.
Customer attitudes seem to be that because of the current recalls, GM can’t afford to have more problems, said Jesse Toprak, senior analyst for Cars.com.
“Customers expect the company to be extremely vigilant now and not repeat past mistakes,” he said.
Surveys to consumers do not show much impact now in or the future because of the recalls, Toprak said.
The Lordstown-built Chevrolet Cobalts were included in the GM recalls.
The class-action lawsuit started with a single plaintiff, Anna Andrews. It was initially filed in U.S. District Court in the Central District of California. Since then a second plaintiff, Ishmail Sesay, has been added, and the case was transferred to the U.S. District Court Southern District of New York.
The lawsuit claims that because of deception, GM buyers lost between $500 and $2,900 in vehicle resale values.
Read more about the case in Thursday's Vindicator or on Vindy.com.