January 20th, 2012 
admin New York, NY, United States (AHN) – Even if you prefer Ford, BMW, Mercedes or Volkswagen, if you are an American taxpayer, you are cheering the news.
General Motors, one-third of whose shares are owned by U.S. taxpayers, sold 9,025,942 vehicles in 2011, up 7.6 percent from 2010. The number was good enough to place GM on top as the world’s largest automaker.
GM beat out Volkswagen, which sold just over 8 million cars in 2011. Toyota, which took the top spot from GM in 2009, has yet to report figures, but its production was severely hampered by the tsunami in Japan and the massive floods in Thailand.
Even more impressive, and better, is that General Motors is now making money and showing a profit, unlike in years when GM reigned king of automakers, but was an unprofitable leader.
In the first nine months of 2011, GM earned $8.47 billion, compared to the $6.17 billion earned in the same time period in 2010.
Driving the recovery for GM was its Chevrolet brand, helped by its popular Cruze compact car.
GM received a $50 billion bailout from the U.S. government two years ago. Shares of GM have lagged since its IPO, when shares were priced at $33. They are currently trading 26 percent lower, near $25 per share. Shares of GM would have to reach $53 per share before the U.S. government could sell just to break even.
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