NHTSA Probes Nearly 600,000 GM Vehicles Over Engine Failure Complaints

The National Highway Traffic Safety Administration (NHTSA) has launched a probe into nearly 600,000 General Motors Co. (NYSE:GM) vehicles following engine failure reports.

597,571 Units Affected

The probe details problems with the company's L87 6.2L V8 engines, NHTSA said on Monday. The affected models include the 2021-2024 Cadillac Escalade and Escalade ESV, along with the 2021-2024 Chevrolet Silverado, as well as the Suburban and the Tahoe. The affected models also include the 2021-2024 GMC Sierra 1500, as well as the Yukon and Yukon XL.

The probe details that the NHTSA's Office of Defects Investigation (ODI) received 36 Vehicle Owner Questionnaires, which alleged that owners experienced engine damage or failure following the recall last year.

GM's New HQ

The company also moved to a new HQ in Detroit, which is significantly smaller in square footage when compared to the previous HQ, dubbed the "Renaissance Center," originally built by fellow Michigander rival Ford Motor Co. (NYSE:F) in the 1970s.

Mary Barra Reaffirms EVs

Meanwhile, CEO Mary Barra recently reaffirmed GM’s commitment to EVs, as the CEO had earlier called the vehicles GM’s “North Star" despite the company laying off over 3,400 workers across multiple EV production facilities.

GM offers good Momentum and Value and scores satisfactorily on the Quality metric. GM also offers a favorable price trend in the Medium and Long term. 

Price Action: GM gained 0.02% to $80.84 during the After-hours trading on January 16, according to Benzinga Pro data.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Photo courtesy: Jonathan Weiss via Shutterstock