Transcript for 20 Million Reasons to Worry
And it's Wednesday June 18 the New York City markets are open and today's big number 18 million. That's cars and trucks that General Motors has recalled this year alone it's only June. And that big number going to get a lot of play today as GM's CEO Mary Barra once again testifies on Capitol Hill. Hello everyone I'm Michelle Franzen in New York here to talk about are as bad day or analyst or Yahoo! finance. Good morning Lauren good morning -- now it's really -- return appearance for -- who was in Washington. In early April testified this time though lawmakers have GM's own internal report. On the delays behind the ignition switch recall that led to at least. Thirteen deaths that report was scathing. So it's not likely to be a good day for -- what are we can expect from her. Yeah at analysts are expecting rougher treatment for bar I you know when she testified the last time as you said that internal investigation -- not completed. And she fell back on night -- number of the answers to -- to probing questions where that she just simply. Couldn't respond to those until the internal investigate the investigation being conducted well now that report is out it's been out and it Wednesday -- I mean eight. Referred to -- culture of complacency that led today's ignition switch problem. Not being recalled in dealt with for a decade it talked about employees passing the -- fear over. Doing anything about -- safety issues because in the past whistle blower that'd been pushed out. Any dish and and -- GM not is referred to where everybody agreed that something needed to be done any meeting and then nothing gets done so. Negligence. A culture of neglecting complacency. That Alice come out and that's all what Mary -- will have to answer to specifically. How things had changed how she intends to change things expect those to be questioned -- that that politicians pressed her on. And of course bar is new to this position but not limited GM the twenty million. Number is staggering and this is that a public relations disaster somewhat how does Wall Street. You General Motors today. So here is the -- -- A Wall Street. That hasn't really cared so this stock prices up a little higher than -- -- when the ignition switch recall on fiasco was first -- made public. February 13 so that's the the Wall Street perspective you know -- look at this is this is old GM. They're putting issues behind and they're doing all the recalls now these are all cars. It -- where the past incarnation of the company prior to bankruptcy and -- which are no longer even made -- part of the new car roster so that's the Wall Street view this -- to share price hasn't really suffered. And -- -- and consume and not really -- G and even -- yes this is a public relations nightmare and you would expect it that would. Filtered through -- consumers on car lots not really wanting to buy their cars are trusting that their state that hasn't been -- case. Auto sales for the last few months when you would expect the recalls to really impact them. -- -- better than analysts were expecting sales were up twelve point 6%. In May and that handily beat expectations so it really easy a disconnect from how the company is being impacted by these recalls and the perception of how you would. Think that they would be. And of course these recalls most of them coming out as we mentioned this first part of the here. An estimated two point six million related to that past decade snafus that they're still working through an idea about. How -- -- this internal investigation. We'll also parallels the other investigations going on -- -- -- -- -- Right so the internal that's investigation doesn't mean that this is emphatic on that -- -- for G and you have numerous. I areas of the government does regulatory and the Justice Department it's investigating GM -- this is an issue that they'll continue to have to answer to. And that authorities will be containing Cilic and healing -- how they think it should be resolved. In addition to lawsuits are already report about giant class action lawsuit against GM's from car -- -- -- saying bit in this. At perception problem in a PR nightmare that GM is is. Is undergoing is impacting their car resale value and they want compensation for that said this absolutely. Wolf will not be and -- things for GM now that this and internal investigation is done it won't just and went with married Barak -- Answer -- and politicians are trying to hold your feet to the fire and hammer and hot seat this is sending its gonna continue today to be with them with regards to all of these investigations going on. -- -- from Yahoo! finance thanks for joining -- so thank you. You of course can keep up with the latest headlines -- right here on abcnews.com. You've been watching the big number I'm Michelle Franzen in New York.
This transcript has been automatically generated and may not be 100% accurate.