GM: 2010 the first profitable year since 2004 (with net income of $4.7 billion)
Small cars launched under all four brands in North America during the year, to be followed by launch
GM ended its first calendar year 2010 as New Company after bankruptcy proceedings with first net income in black ($4.7 billion) in six years after 2004. Among GM's business segments, GM North America (GMNA), the division with the largest deficit since 2005, turned into the most profitable one (EBIT of $5.7 billion). GM announced its liquidity issue has ended after drastic improvement of balance sheets with automotive free cash flow of $2.4 billion.
In its model plans for North America with focus on small cars, GM, having launched Chevrolet Cruze in 2010, will launch the Sonic (new Aveo) in 2011 and the minicar Spark in 2012. GM will also launch compact-class models under the Buick, GMC and Cadillac brands as well.
Regarding electric vehicles, GM launched Plug-in Hybrid Chevrolet Volt in November 2010 and will introduce in 2011 the next-generation mild hybrid system "eAssist" that uses lithium-ion batteries. In response to the U.S. government's call for an average fuel efficiency of 35.5 mpg among auto makers to prevail in 2016, it has been reported that the eAssist system will be used on 2012MY Buick LaCrosse/Regal first, to be followed sequentially by all other models.
GM's global sales rose from 7.48 million vehicles in 2009 to 8.39 million. The ratio of its sales in emerging markets other than North America and Europe rose from 28.5% in 2007 to 48.9% in 2010 with China having become the largest market in the world (2.35 million vehicles). GM plans to strengthen its operations in Brazil, Russia and India (BRICs) after China.