ihs global insight http://michiganradio.org en GM expected to announce $5 billion profit for 2010 http://michiganradio.org/post/gm-expected-announce-5-billion-profit-2010 <p><a href="http://www.gm.com/investors/">General Motors</a> is expected to formally announce its first &lsquo;full-year profit&rsquo; since 2004&nbsp;on Thursday.&nbsp;It was just two years ago General Motors had to seek bankruptcy protection.&nbsp;&nbsp;&nbsp; Now, the automaker is expected to announce a 5 billion dollar profit for 2010.</p><p><a href="http://www.ihsglobalinsight.com/ProductsServices/ProductDetail1146.htm#Bragman">Aaron Bragman is an automotive analyst with IHS Global Insight</a>.&nbsp; He gives a big part of the credit to the federal government for helping GM through bankruptcy.&nbsp;</p><blockquote><p>&ldquo;I don&rsquo;t think we&rsquo;d be in the place where we&rsquo;re at right now if the government had not intervened and actually funded their bankruptcy.&nbsp; We&rsquo;d be in a very different place.&rdquo;</p></blockquote><p>&nbsp;Bragman says&nbsp;2011 might be another good year for GM, because of rising gasoline prices.&nbsp;</p><blockquote><p>&nbsp;&ldquo;Chevy is bringing several small vehicles to market.&nbsp; The new<a href="http://gmtv.feedroom.com/?fr_story=126cf2153eec4217e2cc4c5802eb064dbb458580"> Spark</a> is on the horizon.&nbsp; The new <a href="http://www.chevrolet.com/sonic/">(Sonic)</a> is coming this year.&nbsp;&nbsp; So we&rsquo;re actually seeing a lot of these small cars coming&hellip;and now we&rsquo;re seeing a market force that may actually drive people to go an buy them.&rdquo;</p></blockquote><p>Bragman says high gasoline prices may hurt Chrysler, because it doesn&rsquo;t have as many high- mileage vehicles to offer car buyers. Wed, 23 Feb 2011 19:14:27 +0000 Steve Carmody 1392 at http://michiganradio.org GM expected to announce $5 billion profit for 2010