GM recalling 1.4 million older models due to fire danger

General Motors said Tuesday it is recalling 1.4 million of its older models due to a fire hazard.

The recalled models are sedans and coups from 1997 to 2004 and about 1.3 million are in the U.S., with the rest coming from Canada, Mexico and exports.

"Drops of oil may be deposited on the hot exhaust manifold through hard braking, which can cause engine compartment fires," GM said in a statement.

"GM is working on a remedy. The company is aware of post-repair fires in some vehicles but no crashes or fatalities. There have been 19 reported minor injuries over the last six years," the company said.

The company's stock was down more than 1.5 percent in premarket trading.