Rebate Coming from GM

The owners of General Motors vehicles with faulty ignition switches will be offered a rebate. GM says a $500 rebate will be available for the purchase or lease of any 2013 through 2015 vehicle. The automaker says it will not purchase the vehicles involved as a remedy to the problem. The faulty ignition switch covers around one-point-six-million GM models. The problem has reportedly led to 31 accidents and 12 deaths. Meantime, a report released yesterday by auto analysts at JP Morgan finds the cost of a replacement part for the faulty ignition switches may be as little as two-dollars per part. GM supplier Delphi Corporation may incur some of the costs for the new part.