GM Records Highest Profit Ever

(DETROIT) -- Buoyed by billions in taxpayer-funded bailout cash, General Motors has announced that last year it recorded its highest profit ever.

In a release Thursday, the company claimed it made $7.6 billion in net income in 2011, an increase from the 2010 figure of $4.7 billion the previous year.

"In our first full year as a public company, we grew the top and bottom lines, advanced our global market share and made strategic investments in our brands around the world," Dan Akerson, chairman and CEO of GM saids in a statement. "We will build on these results as we bring more new cars, crossovers and trucks to market, and make GM a far more efficient global team."

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