The ignition-switch recall and difficult market conditions in some parts of the world put tremendous pressure on the automaker's bottom line, said
In talking about the recall, she said the company has changed to make safety decisions at the top of the company. The company has reorganized the vehicle engineering division.
"We also removed 15 employees from the company -- some for misconduct or incompetence; others because they simply don't take responsibility or act with a sense of urgency," Barra said.
The company has taken an aggressive stance on the recalls, she said.
GM has estimated it will need
Net revenue in the second quarter of 2014 was
The company also announced for the quarter it has spent
The stock market is reacting to what it thinks is going to happen, meaning softer future sales are expected, said
The market has become more global than ever, and this was pretty much a flat quarter for GM, he said.
"The good thing for GM is sales really haven't suffered [after the recall]," Toprak said.
In fact, the forecast for GM is that sales will be up again in July, he said.
"[GM has] very solid results given everything they have been going through," Guiterrez said. "I think that the consumers are still viewing the brand as positive."
One highlight Guiterrez mentioned are the high sales numbers for GM on larger vehicles such as the Chevrolet Yukon.
June sales numbers showed the
"Consumers recognize that those vehicles being produced today are competitive with what the best in the industry has to offer, and that is why they [GM] haven't lost any momentum," Guiterrez said.
"It would have been an outstanding quarter if GM did not have all the expense related to the recalls," Krebs said. "There is an underlying strength that is truly there."
There were positive elements within the second quarter. GM had its second-highest volume quarter since 2005 mostly due to sales in
"The gains that GM has made in
Those gains were offset "to a large degree" by declines in
The issue is that the
The sales figures for GM are expected to be released
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