More Evidence That President Obama Was Right To Loan Money To The Automakers

General Motors Co. (NYSE: GM) today reported April sales of 213,387 vehicles in the United States. Retail sales were essentially equal to April 2011. GM’s fleet sales declined 25 percent due to the timing of rental customer deliveries, as previously indicated. As a result, total sales were down 8 percent.

Based on higher than expected first quarter industry sales and expectations that the U.S. economy will continue to grow, GM is increasing its full-year light vehicle sales forecast to 14.0 million – 14.5 million units from 13.5 million – 14.0 million units.

GM Posts Highest Net Profit Ever

I have to admit it – every time I get to report one of these stories I get a bit giddy thinking that there’s one more nail in the coffin of the America-hating / freedom-hating / President Obama-hating* folks who think the GM “bailout” was a bad idea. In this case, we have yet even MORE proof that it was a fantastic idea.

GM brought in $7.6 billion in net income in 2011 – up 62 percent from 2010.

It was the highest annual profit in the history of the company. General full year revenue was up to $105 billion.

GM made the bulk of its income in North America and expects to increase its revenue as global auto sales grow.

*G. W. Bush actually started TARP but the facts never seem to get in the way of hate.