DETROIT — General Motors on Thursday reported its worst financial results in more than four years as the costs of a series of recalls dragged down earnings.
First-quarter profit fell 86 percent to $125 million, or 6 cents per share, as the Detroit automaker took a $1.3 billion charge for recalling about 7 million vehicles worldwide.
GM also incurred $300 million in restructuring costs, mostly in Europe. And it took another $419 million charge due to a change in the way it values Venezuela’s currency.
Read tomorrow's Arkansas Democrat-Gazette for full details.