General Motors posted a record profit for 2011.
The automaker reported a $7.6 billion profit. That's up 62 percent from 2010.
Overall, General Motors' full year revenue was $105 billion, which is 11 percent higher that 2010.
The automaker warns that this year may not be as profitable since the company is losing money in both Europe and South America. GM's European business lost $700 million in 2011 and company officials have expressed their determination to make it profitable.
The head of General Motors Europe says the company is in talks with unions and employee representatives on ways to return the company's Opel and Vauxhall brands to profitability.
GM Europe head Karl-Friedrich Stracke said that "we are in discussions with the unions and the works council and it is all targeted at getting Opel-Vauxhall back to profit."
GM's German labor contracts do not permit plant closures through 2014. Employee representatives say they're willing to talk about ways to help improve the company's finances - but insist on sticking to the contracts.
Stracke would not answer questions about possible plant closures after 2014.
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