GM profits down 85pc after recalls

April 25, 2014 - 10:02:57 am
The President of General Motors North America, Mark Reuss, with the new Chevrolet Corvette during a launch. GM said its first-quarter profits plunged 85 percent after a series of vehicle recalls. GM posted net profit of $125m, dragged down by a $1.3bn charge for recalling seven million vehicles worldwide.