General Motors Agrees To Pay $35 Mln Fine Over Ignition Switch Recall

(RTTNews) - General Motors Co. (GM) said Friday that it reached an agreement with the National Highway Traffic Safety Administration or NHTSA for failing to report in a timely manner the ignition switch defect. As part of this agreement, GM will pay a $35 million fine.

"We have learned a great deal from this recall. We will now focus on the goal of becoming an industry leader in safety.....We will emerge from this situation a stronger company," said GM CEO Mary Barra.

Having signed this agreement, GM said it now has its sights set on effectively serving customers and completing the ignition switch recall.