GM recall includes 2005-2010 Cobalt, 2007-2010 Pontiac G5, 2005-2006 Pontiac Pursuit sold in Canada, and 2005-2006 Pontiac G4 sold in Mexico
A remedy is being developed and customers will be notified when the plan is completed
The vehicles can still be steered when power-steering system fails, though it requires greater effort
Steering fault tends to occur in older vehicles for which warranties have expired, GM said
GM reported US sales of 104,724 Cobalts last year, a decline of 44% from 2008
Automaker said in January it plans to build fewer of the cars through April as it adjusts output to match demand