General Motors registers net income of $4.9 billion for 2012

GM released an announcement pertaining to its income for 2012 which has been recorded at $4.9 billion as compared to $7.6 billion it achieved during 2011, which is income attributable to common stockholders. These numbers contradict the automakers revenue income that rose to $152.3 billion in 2012 as compared to $150.3 billion in 2011.

Earnings before interest and tax were recorded at $7.9 billion in 2012 as compared to $8.3 billion in 2011. ‘Special items’ quoted by GM for the subsequent decrease in income are due to the $0.5 billion worth of articles that impacted income during 2012. $26.2 billion constitute non-cash goodwill impairment charge along with $2.2 billion for US salaried pension plan and $5.2 Billion pertaining to GM non-cash impairment of GM Europe long-lived assets.

2012 has been a strong growth year for General Motors, the automaker’s 3rd consecutive year of profitability. In 2013, focus will lay on new vehicle launches, cost control, and increasing deliveries. In the current economic conditions, GM continues to evaluate voluntary cash contribution opportunities though there are no current plans for this in 2013, it has no current plans to do so in 2013.