GM to take charge of $1.3 billion to cover recall costs

General Motors will take a $1.3 billion charge in the first quarter, the company said on Thursday, stemming from the massive vehicle recall that has battered the company for weeks.

The planned charge includes a previously announced $750 million item, GM said. The company also said it will add ignition lock cylinders to its U.S. safety recall.

"On a preliminary basis, despite the $1.3 billion recall charge, GM currently expects to report solid core operating performance in the first quarter financial results," the company said in its release.

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