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GM on the mend!

General Motors has just posted first quarter earnings of US$3.2 billion, its fifth consecutive profitable quarter and its best quarter in more than a decade.

General Motors was one of the most high profile bankruptcies of the GFC. But after a massive sell off and plant closures it has now emerged as a meaner, greener and substantially more profitable outfit.

It’s not out of the woods yet though, as it still has massive debt to pay back – the US taxpayer still owns more than a quarter of the stock. However it is heading on the right track, particularly after the world wide success of the Cruze compact – which is now made in Australia for the local market. GM execs claim it won’t be long before they regain the mantle of the World’s largest auto manufacturer.