Before we begin, I would like to direct your attention to the legend regarding forward-looking statements on the first page of the chart set. As always, the content of our call will be governed by this language.This morning, Dan Akerson, General Motors' Chairman and CEO, will provide opening remarks, followed by a more detailed review with Dan Ammann, Senior Vice President and CFO. Dan Akerson will then conclude the remarks portion of our call with some closing comments. After the presentation portion of the call, we will open the lines for questions from security analysts. Today, we also have Nick Cyprus, Vice President, Controller and Chief Accounting Officer; Chuck Stevens, CFO North America and South America; and Jim Davlin, Vice President, Finance and Treasurer, to assist in answering your questions. With that, I'd like to turn the call over to Dan Akerson. Daniel F. Akerson Thank you, Randy, and thank you to everyone on the call for joining us. Today, we are reporting financial results that reflect a number of realities about our business, the competitive landscape and the global economy. The first is that in a tough environment, we have been profitable -- we had a profitable year-to-date in 4 out of our 5 segments, which reflects the strong diversification of our earnings base. GM North America is a powerful earnings engine with the potential to become even stronger. The second concern is Europe. In the past, we haven't moved fast enough to fix the things that we can control. But that's changed. Third, at GMIO, staying on offense has helped us increase our year-over-year sales and share in China and positions us for growth in key markets like Russia. In South America, where GM underinvested for years, our product lineup is being revitalized. And finally, GM Financial has been a tremendously successful acquisition, and it is delivering on all the synergies we expected.
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.
As I said before, these are solid results in a difficult global environment where our aspirations are much higher, which is why we are systematically entering more new segments, improving our execution and driving cost and complexity out of the business.If you'll turn to Slide 3, I'll cover some of the recent accomplishments on these fronts then I'll turn it back to Dan Ammann. As we talk about our regional progress, you can see how it is linked together by our global growth strategy of great products, strong brands and strength in the most important growth markets. Read the rest of this transcript for free on seekingalpha.com