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Massive recall expenses slash General Motors' first-quarter profit
Massive recall expenses slash General Motors' first-quarter profit

Heavy spending to repair more than 6 million vehicles in the first quarter triggered an 88% plunge in General Motors Co. earnings for the period, compared to a year earlier. The nation’s largest automaker said it earned just $108 million, or 8 cents a share, in the quarter, down from the $873 million in profits, or 63 cents a share, it collected in the same period in 2013. Revenue edged up a little more than 1% to $37.4 billion. “It is an understatement to say that the first quarter was challenging for General Motors,” said Mary Barra, the automaker’s chief executive.  However, she said, that GM could still produce a profit was a testament to the strength...

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