General Motors Company GM is recalling more than 132,000 trucks with power-unlatching tailgates, per the National Highway Traffic Safety Administration (NHTSA).
Per the NHTSA notice, the recall stems from the possibility of the tailgate's electronic release switch short-circuiting because of water exposure, which could cause the tailgate to unlatch unintentionally while the vehicle is parked. Dealers will replace the exterior touchpad switch assemblies at no cost to owners, with notification letters expected to be sent out on Jan. 13, 2024.
The recall involves specific 2024 models of the Chevrolet Silverado HD 2500, 3500 and GMC Sierra HD 2500, 3500, all equipped with power-unlatching tailgates. Per NHTSA, owners are advised to ensure the tailgate is properly closed and latched before driving.
Last month, General Motors recalled around 462,000 diesel-engine SUVs and pickup trucks in the United States due to a faulty transmission control valve, which could result in a loss of pressure within the valve, causing harsh shifting. The recall covered 2020-2022 Chevrolet Silverado 1500, 2500, 3500, 2020-2022 GMC Sierra 1500, 2500, 3500 and 2021 Cadillac Escalade, Escalade ESV, Chevrolet Tahoe, Suburban, GMC Yukon and Yukon XL.
In September, the automaker issued a recall of a similar scale as November for its SUVs and pickups due to a malfunctioning low brake fluid warning light, which may not activate when the brake fluid is low.
GM currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Dorman Products, Inc. DORM, Tesla, Inc. TSLA and BYD Company Limited BYDDY, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DORM’s 2024 sales and earnings suggests year-over-year growth of 3.66% and 51.98%, respectively. EPS estimates for 2024 and 2025 have improved 25 cents and 21 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for TSLA’s 2024 sales suggests year-over-year growth of 2.97%. EPS estimates for 2024 and 2025 have improved 2 cents each in the past 30 days.
The Zacks Consensus Estimate for BYDDY’s 2024 sales and earnings suggests year-over-year growth of 25.07% and 31.51%, respectively. EPS estimates for 2024 and 2025 have improved 23 cents and 26 cents, respectively, in the past 30 days.
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