One day after the automaker announced another massive recall of more than 3 million cars, shares traded relatively flat Tuesday, and two analysts put out notes reiterating buy ratings.
"Although we are modestly trimming our Q2 2014 and full-year estimates, our estimates for subsequent periods are unchanged on the continued assumption that the recalls will have limited impact on GM sales," Buckingham Research Group wrote in a note to investors. "To date, there has been no measurable impact in the marketplace, and we believe that will continue."
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JPMorgan issued a similar response, writing, "Despite the continuing recalls, we see a clear line of sight to GM largely moving past pending product safety reviews and victim compensation matters by [the end of the second quarter]—both factors that have been weighing on investor sentiment."
Like it or not, General Motors is still driving strong sales. In fact, GM dealers have seen little slowdown in the pace of customer traffic coming into showrooms.
According to Greg Smith, a branding expert at The VIA Agency, recall fatigue has set in with the American public.