Before we go deeper into the results, I'd like to address the subject of leadership. In recent weeks, you've seen that we had to -- we would not hesitate to act on changes required to make the business stronger. That may mean promoting leaders who have motivated teams to achieve great things from our customers, or it could mean recruiting talent from outside GM to accelerate things. From time to time, it will mean parting company with people who are not delivering expected results or, alternatively, who do not meet the highest standards for accountability and integrity. That's the way it has to be for all of us in order for the company to reach its full potential.
All right. Let's turn back to the second quarter. At the top of Slide 2, you can see that we increased our global deliveries year-over-year by roughly 70,000 units, thanks to Chevrolet, which is on a roll. The brand has now delivered 7 consecutive quarters of record sales. While our net revenue was down $1.8 billion to $37.6 billion, virtually, the entire decline reflects the strengthening of the dollar against the euro and other major currencies.
Looking at net income attributable to common stockholders, the bottom line was $1.5 billion, down from $2.5 billion a year ago due largely to losses in Europe.
Turning to our non-GAAP results, our EBIT-adjusted was $2.1 billion in the second quarter, down from $3 billion a year ago, largely because of Europe. North America was down slightly. Europe's EBIT-adjusted loss was $0.4 billion. GMIO's results were essentially equal to a year ago, and South America was slightly down.GM Financial had earnings before taxes of $0.2 billion for the quarter, which was a strong $0.1 billion increase from last year. Finally, our automotive free cash flow was $1.7 billion.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV