GM Raises Recall Costs to $1.3 Billion – Wall Street Journal
General Motors Co. may be facing its first quarterly net loss since emerging from bankruptcy in 2009 after nearly doubling its estimate of costs for recalling about 7 million cars world-wide.
On Thursday, the nation’s largest auto maker said recall costs would reach $1.3 billion in the quarter ended March 31. That is on top of a $400 million charge previously disclose for Venezuelan currency fluctuations. In the year earlier…