GM posts first quarterly profit in two years

GM today announced its 2006 financial results highlighting that it had its first quarterly profit in two years in the 4th quarter with $950 million. The comapny also earned a record revenue in 2006 with $207 billion. Compared with a net loss of $10.4 billion in 2005, GM made an imporvment of $8.4 billion, reporting a net loss of $2.0 billion in 2006.

“We needed 2006 to be a big year, and it was,” GM Chairman and CEO Rick Wagoner said. “Our performance last year reflects the significant progress we’ve made toward transforming GM into a more competitive, global business focused on long-term, sustainable success. The improvement is a credit to our employees, union partners, dealers and suppliers worldwide. It’s also validation that our strategy is working, and faster than many people thought possible.
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AMGC55 - 3/14/2007 1:16:39 PM

+3 Boost

wow that is an american revolution

rom64 - 3/14/2007 1:31:31 PM

+2 Boost

Hallelujah!

SteveL - 3/14/2007 1:51:13 PM

+1 Boost

They have a long way to go but I think they will get there. This is just the start.

NCRedLine - 3/14/2007 6:34:34 PM

+1 Boost

Where can I find the press conference video? Is there a web site that posts it?

Larry - 3/14/2007 7:25:16 PM

+1 Boost

GM is making good cars, cars we might like the Saturn Aura very nice, Cadillac is nice, , If only GM did this 10 years ago

S4cabriofoxone - 3/14/2007 9:18:08 PM

+1 Boost

So true.

Hey, at least they're catching up. They used to be about thirty years behind; now the gap has closed to ten.

Someday, maybe they'll sell cars that are only one year behind everyone else. That would be a miracle.