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CORRECTED-GM to take $1.3 bln charge in 1st qtr due ignition switch recall
April 10, 2014 / 6:25 PM / 4 years ago

CORRECTED-GM to take $1.3 bln charge in 1st qtr due ignition switch recall

(Corrects first paragraph to show $1.3 bln total includes $750 mln charge previously announced)

DETROIT, April 10 (Reuters) - General Motors Co on Thursday said it will take a charge of $1.3 billion in the first quarter to cover recall-related repairs and costs, which includes a $750 million charge the company previously announced.

GM said it still expects to report “solid core operating performance in the first quarter financial results.”

GM said it told U.S. safety regulators it will replace lock cylinders on the 2.2 million cars recalled in the United States for ignition switch problems.

The automaker said it is aware of several hundred complaints of keys coming out of ignitions while the engine is running.

GM will also replace the lock cylinders in six ignition switch recalled models outside the United States, which total about 400,000.

Reporting by Bernie Woodall; Editing by Tom Brown

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