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General Motors posted record $7.6 bln profit in 2011

Washington, Fri, 17 Feb 2012 ANI

Washington, Feb.17 (ANI): U.S. automobile major General Motors earned a record 7.6 billion dollar profit last year, the highest profit in the company's 103-year history.

 

According to ABC News, it sold 640,000 more cars and trucks in 2011 than it did in 2010 and took in a total of 105 billion dollars.

 

Jeremy Anwyl, vice chairman of Edmunds.com, said while he is buying GM's immediate success, he is not sold on the company's future.

 

He said that he was still skeptical about General Motors ability to sustain momentum over the long haul.

 

To date, GM has paid back 26 billion dollars of the 49.5 billion dollar bailout and U.S. taxpayers still own 30 percent of the company in stock.

 

For the workers at GM's plant in Lake Orion, Mich., this GM is much better than the GM that halted production there in 2009.

 

Today, the plant is up and running, turning out 800 cars a day and employing 2,200 people. (ANI)

 


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