"NHTSA opened an investigation Jan. 27 into approximately 905,000 Cobalt models in the United States after receiving more than 1,100 complaints of loss of power steering assist, 14 crashes and one injury." So one customer in a thousand complained to the NHTSA, and 13 customers per million crashed (presumably while parking).
A friend of mine had a 1994 Ford F150, whose power steering lines rusted through. He lost power steering assist until he got around to repairing it. The NHTSA didn't get involved in that case, and I fail to see the difference.
IMO, an extended warranty would be more appropriate than a recall.
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