- General Motors (GM) posted a significantly lower profit in Q1 due to the high costs of its ignition switch recall.
- The automaker was able to stay in the black as solid pricing trend in North America helped to boost margins.
- As previously reported, GM tallied recall expenses of $1.3B in Q1.
- GM Europe reported an EBIT-adjusted loss of $300M, inclusive of $200M for restructuring costs.
- GM +2.1% premarket despite a miss by the automaker on its top line.