GM profit falls 41 pct. on weakness in Europe
DETROIT – A big loss in Europe dragged down General Motors' second-quarter profit.
The automaker's net income from April through June fell 41 percent to $1.5 billion, $1 billion less than the same quarter a year earlier, GM said on Thursday.
A $361 million loss in Europe, coupled with $19 million of red ink in South America, pulled down strong performances in North America and Asia. In last year's second quarter, GM made $102 million in Europe before taxes.
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