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GM Loses $3.2 Billion; Stock Rises to 10-Month High

General Motors posted a second-quarter loss of $3.2 billion Wednesday -- but company officials say the loss includes more than $4 billion in special one-time charges related to GM's aggressive downsizing plan. The news sent shares of GM to a 10-month high.

Earlier this year, the company offered financial incentives to convince blue-collar workers to retire early. More than 30,000 accepted. Without those charges, the Detroit automaker would have shown a profit of more than $1 billion.

GM spokesperson Gina Proia said the company is "very encouraged and pleased by the performance in the second quarter."

From member station WDET in Detroit, Jerome Vaughn reports.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

Jerome Vaughn

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