General Motors Co. (NYSE: GM) has initiated a recall on nearly 800,000 model year 2014 Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks to repair a defect that may cause a temporary loss of electric power steering assist followed by a sudden return of power, especially during a low-speed turn. About 690,000 of the trucks were sold in North America and the rest we sold internationally.
The repair involves a reflash of the power steering module software, and the company said it will reimburse owners who paid for the repairs. Vehicles produced after September 11, 2017, will have the proper software installed.
GM did not report any accidents or injuries related to the defect. The company estimates that 2% of the recalled vehicles will have been affected by the defect.
GM will notify vehicle owners of the recall program but has not provided a notification date. The repair will be made free of charge to owners.
The company issued a stop-shipment notice to dealers on June 29.
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.
If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.