DETROIT: General Motors Corp’s (GM) earnings surged in the fourth quarter on record revenue as the world’s biggest automaker offered hefty incentives to car buyers.
GM said it earned US$1bil for the October-December period of last year compared with US$255mil in the previous corresponding period. Revenue climbed to US$48.7bil, the company's highest total ever for the period, from US$46bil a year earlier. The strong sales were driven by heavy incentives as GM sought to meet market-share goals. Excluding special items at its Hughes Electronics Corp, which owns the DirecTV satellite television service, GM earned US$850mil for the fourth quarter.
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