This Saturday, January 31st, marked the deadline to submit claims for compensation regarding the GM ignition switch recall that affected 2.6 million cars.
The immense recall made headlines in 2014 as the death toll rose. The current number of deaths is 51, and the number of injuries from the recall is 77. Tom Krisher of The Associated Press reported that more claims are likely to be granted.
The total number of claims received before the deadline is 4,180, and thousands are still under review.
What did all of this cost GM? CNN Money reports, “General Motors closed the books on its epic year of recalls, saying they cost the company $4.1 billion in repair costs, victim compensation and other expenses.” The compensation fund for victims alone is $400 million, and GM spent $2.8 billion to repair the recalled vehicles.
GM still performed quite well in the fourth quarter, and managed to have a strong sales year in 2014.
