General Motors, the world's biggest motor car maker, said today its net profit had more than quadrupled in the fourth quarter as new models helped it gain market share.
Net profit surged to $1.02 billion compared with $232 million, in the same period a year earlier. Sales rose 5.89 per cent to $48.66 billion.
"GM delivered strong results despite challenging global economic and market conditions," president and chief executive Mr Rick Wagoner said in a statement.
A key driver in GM's earnings was a 10 per cent rise in its North American vehicle production to 1.425 million cars and trucks in the fourth quarter, including a 14 per cent rise in trucks alone.
Car makers count earnings from vehicles when they are produced and shipped to dealerships rather than when they are sold.
AFP