Comment on GM Expects To Pay Upwards Of $600 Million To Victims Of Ignition Switch Defect

GM Expects To Pay Upwards Of $600 Million To Victims Of Ignition Switch Defect

(paul bica)Last month General Motors detailed its plan to compensate victims of crashes resulting from the long-ignored ignition defect, saying individual payouts could range anywhere from around $20,000 to the double-digit millions. Today, the car maker revealed how much it expects to pay in total when all this compensating is done. In its quarterly financials [PDF], GM reported that it’s estimating that all payouts will add up to around $400 million, but concedes that it could go as high as $600 million. The car company notes that these are just estimates and that there is no actual upper limit set for compensation payouts.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Living News