DETROIT – General Motors said its profit in the fourth quarter increased slightly as continued losses in Europe offset positive results in North America.
G.M., the nation’s biggest carmaker, said it had net income of $900 million in the quarter, compared to $500 million in the same period a year earlier. Revenue increased to $39.3 billion, up from $38 billion.
The company said strong sales in the surging United States market helped it post a $1.4 billion pretax profit in North America.
But in Europe, G.M., like many other automakers, is continuing to absorb big losses from the worst sales environment in nearly 20 years. The company said it lost $700 million in the quarter.
The company had modest success in its other international operations, reporting a $500 million profit in Asia and a net income of $100 million in South America.
The fourth quarter capped a transitional 2012 for G.M., its third full year of operations since its bankruptcy and $49.5 billion government bailout in 2009.
While it is struggling to restructure in Europe, the company is in the process of introducing several new models in the United States, including revamped versions of its highly profitable pickup trucks.
G.M. also negotiated a sale of the Treasury Department’s ownership stake in the company.
For the full year, G.M. said it had net income of $4.9 billion compared to $7.6 billion in 2011. Executives said the 2011 profit included $1.2 billion in one-time gains on asset sales.
For the year, revenue grew to $152.3 billion, up from $150.3 billion in 2011.
G.M.'s chief executive, Daniel Akerson, said the company had a solid year in 2012, and said its future performance will depend on growing sales with new models.
“This year our priorities will be executing flawless new vehicle launches, controlling costs and delivering more vehicles to our customers at outstanding value,” Mr. Akerson said in a statement.
G.M.'s big profits in North America will directly benefit its 49,000 hourly workers in the United States, each of whom will receive profit-sharing checks of up to $6,750 for their work in 2012.
G.M., Hurt by Europe, Still Increases Profit
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G.M., Hurt by Europe, Still Increases Profit
