• March 15, 2007

The sigh of relief in Detroit is audible, as General Motors this week announced revenues of $207 billion last year.

The company sold 9.1 million vehicles worldwide, and, for the second year in a row, sold 55% more vehicles outside North America than in, per a company release. GM posted adjusted net income of $2.2 billion versus a net loss in 2005 of $195 billion.

In the fourth quarter, GM's net income was $180 million, versus net loss of $936 million in 2005. In North America, GM posted a $5 billion earnings improvement in 2006, with the fourth quarter last year its fourth consecutive quarter of more than $1 billion improvement in adjusted earnings.

--Karl Greenberg