Recall costs slam brakes on GM profit | Bangkok Post: news

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Recall costs slam brakes on GM profit

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General Motors Thursday reported slumping first quarter profits, dragged down by hefty recall charges that eclipsed a strong core operating performance. 

The General Motors headquarters in the Renaissance Center is pictured on January 14, 2014 in Detroit, Michigan

The largest US automaker's first-quarter net income sank 85 percent from a year ago to $125 million as the company took a $1.3 billion charge for the recall of seven million vehicles worldwide.

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