(credit: General Motors)
Things are looking pretty good at General Motors these days. The US' largest car maker just reported its Q4 2015 results: $6.3 billion in net income, a big jump over the $1.1 billion it earned during the same period in 2014. Net income for 2015 was $9.7 billion.
That's good news for shareholders—GM earned $5.91 per common share—and also for GM's hourly workers. The 49,600 GM employees who are members of the United Auto Workers union are in line for up to $11,000 in bonus payments as a result of the company's success.
"It was a strong year on many fronts, capped with record sales and earnings, and a substantial return of capital to our shareholders," said chairman and CEO Mary Barra. "We continue to strengthen our core business, which is laying the foundation for the company to lead in the transformation of personal mobility. We believe the opportunities this will create in connectivity, autonomous, car-sharing and electrification will set the stage for driving value for our owners for years to come."
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