Arab Today, arab today gm\s firstquarter profit plunges after massive recall
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

GM\'s first-quarter profit plunges after massive recall

Arab Today, arab today

Arab Today, arab today GM\'s first-quarter profit plunges after massive recall

Chicago - XINHUA

U.S. automaker giant General Motors Corporation (GM) said Thursday that its first-quarter profit declined by 85.5 percent year on year, due to a massive recall of vehicles with potentially defective ignition switches that have been linked to 13 deaths. In a statement on its website, the Detroit-based company reported a net revenue of 37.4 billion U.S. dollars in the first quarter of 2014, slightly up from 36.9 billion dollars of the same period last year. However, net income came in at 125 million dollars, or 6 cents a share, down from 865 million dollars, or 58 cents a share, in the year-earlier period. The figure still topped Wall Street estimates of 4 cents per share. The automaker has been embroiled in a series of investigations and lawsuits since February. Recalls involving up to 7 million vehicles worldwide this year have incurred a 1.3-billion-dollar charge, which market analysts said has sunk GM's earnings in the first quarter. But GM CEO Mary Barra said the recalls did not impact sales. " The performance of our core operations was very strong this quarter, reflecting the positive response of customers to the new vehicles we are bringing to market," she said. GM and its partners produce vehicles in 30 countries, enjoying leadership positions in the world's largest and fastest-growing automotive markets.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gm\s firstquarter profit plunges after massive recall Arab Today, arab today gm\s firstquarter profit plunges after massive recall

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gm\s firstquarter profit plunges after massive recall Arab Today, arab today gm\s firstquarter profit plunges after massive recall

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday