Business

GM profit 2Q falls 85 pct. on recall costs

By Washington Examiner
Published July 24, 2014 4:29pm ET
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GM profit 2Q falls 85 pct. on recall costs
An auto worker inspects finished SUVs coming off the assembly line at a General Motors auto plant in Arlington, Texas. The manufacturer warned Friday that it may lose its competitive edge worldwide under the Trump administration's proposed automotive tariffs. | LM Otero/Associated Press

DETROIT (AP) — Recall expenses chopped $1.5 billion from General Motors’ bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes.

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Auto Industry Auto Safety General Motors