General Motors Bouncing Back

General Motors performing well

General Motors performing well

Less than two years ago General Motors, was in desperate financial shape. Along with Chrysler, GM was forced to ask the Federal Government for a financial bailout to keep the company from going under. The $50 billion loan was very controversial at the time, but now appears to have been a wise decision.

According to industry numbers, GM closed out 2010 with sales of 8.39 million vehicles, placing it just a fraction behind the auto industry sales leader for the year, Toyota, which had only about 30,000 more sales.  Along with the vehicle numbers, there are encouraging profit results. For the first 9 months of 2010, GM posted a $4.2 billion profit.

The company has been able to add approximately 9000 workers in the country as it continues its climb back. According to officials, the top priority has been to build quality products to keep and grow market share. As for the government’s payback, the Federal Government currently owns about 1/3 of GM. As the stock price continues to improve, the government is selling stock to recover its investment.

About Ed Dixon

Ed Dixon - as an experienced writer and proven business leader, Mr. Dixon is the primary contributor for news related to Business and Finance. ed_dixon@newstaar.com