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GM first-quarter profit misses estimates on South America, Russia weakness| Reuters

Apr 24, 2015    

DETROIT (Reuters) - General Motors (GM.N) posted a smaller-than-expected quarterly profit on Thursday on weakness in South America and Russia and a higher tax rate, sending shares down 3.5 percent."Clearly the macro environment in South America, and it's primarily Brazil, deteriorated versus even where we thought it was going to be," Chief Financial Officer Chuck Stevens told reporters at the company's Detroit headquarters. He expects the region to be "reasonably challenged" through the first half of the year, but said GM is targeting second-half profits similar to the same...

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