GM posts full-year profit of US$ 4.47 billion after a decade

The American automobile giant General Motors seems to be coming out of its bad phase, the auto biggie had undergone a rough time of late due to the economic slowdown across the globe. But is looks like the automobile giant has eventually overcome the bad time and has also undergone an IPO. It has been reported that General Motors has registered a full year profit of whooping $4.47 billion and reported $510 million net income in the fourth quarter.
 
Rumour mills are doing the rounds that the American auto giant, General Motors is planning big for 2011 and aspires to earn more profit this year. Commenting on the forecast GM CFO Chris Liddell said that the company will witness rise in context of volumes. He further added that vehicle mix and pricing might be negative , however on the whole the trend will be positive. According to the reports GM Chairman and CEO, Dan Akerson said that the previous year was pretty good for the company as the company managed to earn profits near the bottom of the U.S industry cycle. He also said that the company posted profits in all the four quarters.

The report suggests that General Motors should focus on the European business and try to reorganise things there in order to gain profit. General Motor's major profit was contributed by China last year, however on the contrary it is has been forecasted that things might change this year. Sales in China are likely to fall compared to the last year's sales.

General Motors has been performing well in the Indian auto market with its two of the most popular cars under the sub brand Chevrolet, Chevrolet Beat and Chevrolet Spark. In the last year the company witnessed rise in the sales figure thanks to these two models.According to the report GM aims at accelerating its sales to 30 percent. The company is planning to roll out new cars slated to be launched in 2012.

Read More on : Chevrolet Camaro price