General Motors Face $10 Billion Lawsuit
|   Sunday, June 22, 2014
General Motors has been sued for a total sum, amounting to $10 Billion, after a glitch with their ignition switch, lowered after sale value of numerous models. This comes as a major blow to General Motors, who has been suffering from numerous technical and financial difficulties for the past few years.

The lawsuit claims that General Motors has cheated buyers, by hiding problems with their vehicles. More than 20 Million vehicles were recalled in 2014 alone, which has devalued these models in the car market, by $500 - $2,600.


This is the first ever reported case of defrauding customers, against General Motors, related to technical glitches. The company recorded total earnings of $3.8 Billion in 2013. Hence, this lawsuit is worth approximately three years of GM's net profits. If proven guilty, the auto making giants could face some serious financial hardships. Insiders have stayed mum till now, even as, official word is expected soon.
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