A lawsuit filed in June alleges that the recent GM recalls of millions of cars and trucks damaged the brand and that owners should be compensated for lost resale value. The complaint claims that concealing defects hurt GM vehicle owners.
The lawsuit claims that potentially 15 million car and truck owners should be compensated more than $10 billion for, not just the vehicles that were recalled, but for the diminished value of their cars because of damage to the GM brand and reputation. The lawsuits cite recent economic studies showing that some non-recalled GM cars and trucks have dropped in resale value.
This lawsuit seeks class action status to include those who owned or leased GM vehicle sold between July 10, 2009 and April 1, 2014, as well as people who sold vehicles at a lesser value because of the recalls. The lawsuit claims that re-sale values have dropped between $500 and $2,600.
The company is already facing more than 80 lawsuits related to the economic damages resulting from the GM recalls, such as repair costs and declines in resale value. GM has issued about 40 recalls this year, covering more than 20 million vehicles, most of which were related to defective ignition switches that resulted in at least 13 deaths, over 60 crashes, and numerous injuries.
If you have suffered a serious injury in an accident caused by an auto defect, you may be entitled to receive compensation by the auto manufacturer for your injuries. Do not hesitate to contact our office for help and to schedule a free consultation.