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General Motors profit for 2012 lower

by
General Motors Chairman and Chief Executive Officer Dan Akerson addresses the media before the start of GM's annual meeting of stockholders
General Motors Chairman and Chief Executive Officer Dan Akerson addresses the media before the start of GM's annual meeting of stockholders

DETROIT (WKZO) -- General Motors is reporting a smaller profit for 2012 compared with 2011 due to continued problems in Europe.  Still, the automaker posted a nearly five-billion dollar profit and 49,000 hourly employees will be getting profit sharing checks of 6,750-dollars.

Chairman and CEO Dan Akerson called the news a "solid report" and says the company will focus on new vehicle launches, controlling costs and delivering new products.  GM posted a profit of 892-million dollars for the fourth quarter of 2012.  On the downside, GM posted a loss of nearly 700-million dollars in Europe.

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