European Economy a Drag on GM Profitability

GM Profit Sharing Checks Up To $6,750

By Dave Leval
By Peter Neumann

Credit: Wieck

General Motors Detroit-Hamtramck Assembly Plant employee Elizabeth Adams on the line prior to GM's announcement it will add two shifts and approximately 2,500 jobs at the Detroit-Hamtramck assembly plant to build the new Chevrolet Malibu mid-size sedan and the next-generation Impala large sedan alongside the Chevrolet Volt and Opel Ampera electric cars - Wednesday, May 25, 2011 in Detroit, Michigan. GM's commitment includes a $69 million investment in tooling and equipment to support the next-generation Impala. GM announced a $121 million investment to support the Malibu in April 2010. (Photo by John F. Martin for General Motors) (05/25/2011)

February 14, 2013

DETROIT, Mi. (My TV20 News at 10) --- GM posted an 89% growth in 4th quarter income, and says it'll issue profit-sharing checks to its 49,000 hourly U.S. workers.

Those checks could be up to $6,750, which is about $250 less than a year earlier.

For the year, GM's 2012 net income fell to $4.9-billion, down 36% from a year earlier.

The European market has hurt GM's profitability, while North American sales continue to flourish.

What are your thoughts CLICK HERE to leave us a "My2Cents” comment.


© Copyright 2014 A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.