March 20, 2013
General Motors (NYSE: GM ) issued a recall of up to 26,582 vehicles Wednesday. It warned that "a software problem may cause the transmission to inadvertently shift to Sport mode removing any transmission-related engine braking effect. If engine braking is unexpectedly removed, it may increase the risk of a vehicle crash."
Affected vehicles include certain 2013 Buick LaCrosse vehicles, manufactured between April 25, 2012 and March 6, 2013, and 2013 Cadillac SRX vehicles, manufactured between May 29, 2012 and Feb. 18, 2013.
Beginning on March 28, GM will contact owners about the recall and invite them to bring their cars in to GM dealers to have the transmission control module reprogrammed free of charge.
GM shares are up 2.5% despite the news, recently trading at around $28.81.
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