Shares of General Motors (NYSE:GM) fell slightly in today’s trading after the automaker was fined nearly $146 million because 5.9 million of its older vehicles from 2012 to 2018 didn’t meet emissions and fuel economy standards.
The National Highway Traffic Safety Administration said these GM vehicles didn’t meet federal fuel economy rules, and the Environmental Protection Agency (EPA) found that GM’s trucks and SUVs emitted 10% more carbon dioxide than they initially reported. Interestingly, these vehicles can’t be fixed and will stay on the road.
In response, GM says it followed all the rules when certifying its vehicles for pollution and mileage and denies any wrongdoing. The EPA’s action affects about 4.6 million full-size trucks and SUVs and 1.3 million midsize SUVs, like the Chevy Tahoe, Cadillac Escalade, and Chevy Silverado. GM will also lose credits that were used to meet emissions standards.
The EPA…
