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Financially, things are looking up for Volkswagen Group overall, yet deliveries are still falling in the Americas. Worldwide, the automotive giant's profits after taxes rose 26.8 percent in the first quarter of 2014 to 2.47 billion euros ($3.4 billion). Total sales revenue was up 2.7 percent to 47.8 billion euro ($66 billion).

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General Motors isn't the only Detroit automaker posting falling profits in the first quarter. Ford just released its Q1 2014 financial data, and it reported a net income of $989 million, down $622 million from Q1 2013. The drop is partially blamed on higher warranty and recall expenses than the company had anticipated.

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Slow US growth is hampering profits at Hyundai. In its first quarter financial statement, the Korean automaker reported a profit of 1.93 trillion won ($1.86 billion). According to Reuters, this is less than analysts' expectations and nearly the same as last year.

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General Motors' recall woes in the first quarter of 2014 has had a major effect on the company's bottom line. In its Q1 financial report, the business announced that it spent $1.3 billion on "recall-related repairs" in the first three months of the year.

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