Pricey Recall: GM Loses Millions

By WTVO WQRF Newsroom

Published 04/24 2014 11:31AM

Updated 04/24 2014 11:34AM

WTVO/WQRF - GM'S recall crisis has taken a big chunk out of its first quarter profit.

The automaker said Thursday The cost of repairing millions of vehicles would come to $1.3 billion.  Add in some accounting charges and the company was left with only $108 million in profit for the first three months of the year.

Sales of GM models have not been hurt by the recalls as revenue increased one percent and the number of vehicles sold rose two percent.

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