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General Motors Recall Costly On First Quarter Profit

Story By: Larry Stine

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  Original Published: 4/24/2014

G-M's recall crisis has taken a big chunk out of its first quarter profit. The automaker said Thursday the cost of repairing millions of vehicles would come to $1.3-billion. Add in some accounting charges and the company was left with only $108-million in profit for the first three months of the year. Sales of G-M models have not been hurt by the recalls, revenue increased one percent and the number of vehicles sold rose two percent.

   
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