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GM's profit falls on recall costs
24 Jul 2014 12:12
General Motors reported a lower second-quarter profit due to numerous recalls and the expected cost of at least $400 million for its victims' compensation fund.
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The victims' compensation fund was set up for those killed or injured by a defective ignition switch linked to at least 13 deaths. Net income in the quarter fell to $190 million, compared with $1.2 billion a year earlier.
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