Recalls And Investigations Hurt GM's Profit Picture - KALB-TV News Channel 5 & CBS 2

Recalls And Investigations Hurt GM's Profit Picture

Posted: Updated:

G-M's recall crisis has taken a big chunk out of its first quarter profit.

The automaker said today the cost of repairing millions of vehicles would come to one-point-three-billion dollars. Add in some accounting charges and the company was left with only 108-million dollars in profit for the first three months of the year. The smallest profit in some time. 

All is not gloomy in Detroit. Sales of G-M models have not been hurt by the recalls, in fact revenue increased one percent and the number of vehicles sold rose two per-cent during the first quarter of 2014.
Powered by WorldNow
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KALB. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.