GM Recalls 2.7 Million More Vehicles

Mike Santoli of Yahoo Finance says the recall does not stem from one set problem or one set model.
4:07 | 05/15/14

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Transcript for GM Recalls 2.7 Million More Vehicles
The markets -- new Yorker open and today's big number is two point seven million that's how many cars and got General Motors announced it is recalling. -- adding to a growing and some would say embarrassing list. Hello everyone I'm Michelle Franzen in New York here with us with his drenched in some coveralls -- centrally from Yahoo! finance will break all of this down. -- a couple of million here couple million there pretty soon there is going to be very few GM cars on the road what are the. Yet the numbers started to -- after awhile well actually it's no single problem and no single model is that -- a variety of past generation models the largest being machete Malibu of -- -- -- -- current -- -- -- but and others have to pick up trucks from years back corvettes. And it's a variety of problems with head lamps brake lamps tie rods so it's individual issues that have enough of a prevalence. That now that there's tremendous scrutiny by GM and the regulators on the kind of performance history of all of there models on the road. That they decided that they actually have to do -- recall these instances so I do think on some level. It reflects you know a mandated vigilance. That GM is now applying. To all the all of. Cars out there that is quite a -- of course this comes not long after GM recalled two point six million cars. To fix an ignition switch problem linked to at least thirteen deaths new GM CEO -- borrow really walked into a firestorm. What if anything can she do to restore confidence in General Motors and the public. You know I think she's doing really what's available to -- which is to kind of portray. Herself and the company as having kind of been sobered by their experience with these long ignored problems that it seems here and to sort of you -- almost over correct for that to seem as if they're being excessively careful in recalling fixing other problems and obviously taking the financial hit. -- -- -- I do you know that she is you know -- sort of in a vague way been implicated in terms of having knowledge of some of the problems. Back when she was not CEO but a senior executive. And that seems not to have stuck with her too much but I do think it's basically GM. Is job number one as says Ford used to say about quality is to make it seem as if they care very much about the cars on the road right now they're going to do everything. Possible to fix them and that investigation probe still ongoing but how -- the market reacting to today's latest recall news. Well -- look like GM stock was gonna lose about 1% before the market it's actually -- significantly below its recent highs -- you know. More than 20% actually are about -- -- percent. Below where it traded not too long -- so clearly the market is rearing of of these issues it's not -- -- exactly a panic. But you know this is gonna cost another Georgia million dollars -- just taken a charge against earnings for this particular -- and it's going to be very expensive. And I do think they open question is for investors and and for customers is exactly how much. -- to the brands this is going to happen down the road when it comes to customers' reactions to future -- model. And of course this comes as you know America's auto makers were celebrated in and join come back how does this. Fit into the whole scheme of the Renaissance for the automakers. Well it's really mostly at this point GM problem I mean -- sales have not appreciate -- suffered just yet. And all of them have have gone back to pretty much pre crisis levels of sales. In terms of you know the overall monthly sales volume so so far that hasn't really bitten by I think we are gonna have to watch in -- in the coming months. Whether in fact -- -- a little bit of market share and I think in general the story the US auto comeback is intact. But I do think that GM's role in that. You know might actually -- -- -- and toll from Yahoo! finance thanks as always for joining us. You of course can keep up with the latest headlines right here on 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.

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