General Motors Co.’s stock ended at its lowest in three years on Thursday following a news report saying that the carmaker may face a massive recall in connection with defective air-bag inflators.
GM stock fell 2.4% to close at $30.31, its lowest since Sept. 30, 2020, when it closed at $29.59. The stock has been down for five straight sessions, and off more than 8% in the period.
The report, citing people familiar with the matter, said that GM would be among the “most exposed” automaker to the recall, which involves 52 million inflators made by ARC.
At least two people have been killed and several others injured after the inflators exploded with too much force during a crash, sending shrapnel flying, the report said.
The National Highway Traffic Safety Administration has not yet released how many vehicles would be in the recall, or the specific models that would be affected, it said.