NEW YORK (CNN/Money) - About 254,000 Saturn L-Series cars are being recalled because of ignition and spark plug problems that could cause a fire, General Motors said Tuesday.

The world's largest automaker said there have been seven reports of fires related to the problems but no crashes, serious injuries or fatalities.

Saturn's L-Series

GM said the recall affects 240,000 of the 2000-2003 models sold in the United States. Another 14,000 were sold in Canada.

Detroit-based GM added that there are warning signs that could alert owners that their Saturns may have the ignition or spark plug conditions.

A driver would notice that the vehicle may be hard to start, that the overall power of the engine is reduced, and that there is a change in idle quality.

In addition, the "Service Engine Soon" light may be flashing, and there could be noticeable exhaust noise.

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GM said it plans to tell owners of affected vehicles starting in late July to bring them to their Saturn dealers.

The necessary replacements and reprogramming will be performed at no cost to the customers, the company said.

GM (GM: down $0.63 to $36.75, Research, Estimates) stock sank nearly 2 percent in afternoon trading on the New York Stock Exchange.