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FX.co ★ General Motors faces heavy fine

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Forex Humor:::2015-06-03T15:17:00

General Motors faces heavy fine

As the auto manufacturer did not report an ignition system defect in its cars, it would have to pay a record fine. According to one of US daily newspapers, at least 104 people died in the result of the technical defect.
The General Motors fine is expected to exceed the amount of 1.2 billion dollars that Toyota had to pay in 2014 for concealing unintended acceleration issues.
The fact that General Motors did not warn the US Justice Department of the defect in time is identified as a criminal wrongdoing. The publication reads that the company recalled over 30 million cars in 2014 over this defect. The amount was a record level for GM.
It has been reported that the car manufacturer is ready to cooperate with the investigation which will somewhat reduce the penalty amount. As for the 2014 Toyota case, unlike GM, Toyota preferred to start a legal fight with prosecutors after a refusal to cooperate with the investigation.

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