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GM posts small profit despite recall expenses
GM posts small profit despite recall expenses

General Motors Co. squeezed out a small second-quarter profit — despite setting aside billions of dollars for recall expenses and payouts to crash victims — while Ford Motor Co. reported a large profit for the quarter, helped by a turnaround in Europe and the robust U.S. auto market. Both results underscore the strength of the auto industry, said Efraim Levy, an analyst for S&P Capital IQ. "Globally there are different hot spots and cold spots, but the two main markets, China and the U.S., are doing well, and it looks like the worst is over in Europe," Levy said. GM scraped out a profit of $190 million, down from $1.2 billion in the same quarter a year...

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