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General Motors profit for 2012 lower

by

DETROIT (WKZO) -- General Motors is reporting a smaller profit for 2012 compared with 2011 due to continued problems in Europe.  Still, the automaker posted a nearly five-billion dollar profit and 49,000 hourly employees will be getting profit sharing checks of 6,750-dollars.

Chairman and CEO Dan Akerson called the news a "solid report" and says the company will focus on new vehicle launches, controlling costs and delivering new products.  GM posted a profit of 892-million dollars for the fourth quarter of 2012.  On the downside, GM posted a loss of nearly 700-million dollars in Europe.

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