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.

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