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General Motors re-emerges as world's top vehicle-maker two years after near bankruptcy

Washington, Fri, 20 Jan 2012 ANI

Washington, Jan 20(ANI): General Motors (GM) has once again become the world's biggest vehicle maker, which marks dramatic turnaround for a firm that was facing bankruptcy two years ago.


GM said it sales rose by 7.6 percent to over nine million vehicles in 2011.


GM CEO Dan Akerson said strong sales ensured that the company remained profitable and continued to invest in new products.


"You're not going to achieve the financial goals we want to achieve and have declining market share or declining numbers of units sold," The Telegraph quoted Akerson, as saying.


GM's rival Volkswagen however, claimed itself as the world's top vehicle maker.


According to the Wall Street Journal, Volkswagen said that GM's figures were boosted by adding sales of its Chinese partners.


Volkswagen said it sold 8.1 million vehicles excluding truck makers MAN and Scania in which it has majority stakes.


Analysts said the numbers could be interpreted in different ways and added that the decision on whether or not to include sales figures of subsidiaries would depend on how involved the vehicle maker was in their operations.


"If GM have added figures of companies in China, which they are pretty much a part of in terms of day-to-day running, then there is nothing wrong in it," a Frost and Sullivan analyst said.


"But if they have also included numbers of manufacturers where they just have a passive investment then it is wrong," he added.


GM emerged from bankruptcy in 2009 after receiving a 52 billion dollar taxpayer-funded bailout. (ANI)


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