On September 30, General Motors fell 3.31% in regular trading, trading at $77.86/share, with turnover of $187 million. The decline was driven by a fresh vehicle recall and an ongoing federal investigation into the company's braking system.

The National Highway Traffic Safety Administration (NHTSA) announced that General Motors will recall 29,000 vehicles in the United States. This latest action comes on the heels of a broader regulatory probe. In late August, NHTSA expanded its investigation into General Motors' eBoost electronic brake system to cover all models equipped with the technology, after receiving multiple complaints of brake assist failure while driving. The expanded investigation encompasses approximately 1.16 million vehicles, significantly raising the stakes for the automaker.

The compounding effect of the new recall and the widening brake safety investigation weighed heavily on market sentiment. The broader Automobile Manufacturers sector also traded lower on the session, with Ford down 1.99%, Ferrari down 2.24%, Stellantis down 0.68%, and Tesla down 0.78%. General Motors is scheduled to report its next quarterly earnings on October 20, with consensus EPS expected at $3.41.

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