General Motors CFO Chris Liddell told reporters today that the automaker has a chance to turn a full-year profit in 2010 if the economy and auto sales make modest recoveries.
"Relative to where we were a couple of years ago, that's enormous progress," Liddell said.
GM is earning profits in Brazil and China, he added, holding steady in North America, and struggling in Europe. The company has not earned a full-year profit since 2004, when it made $2.7 billion. Since then, it has lost more than $88 billion.
The U. S. government has given GM $52 billion in aid. Liddell said he would like to see the company repay $6.7 billion of the loan before June.
GM's accountants are preparing to announce 2009 and first quarter earnings at the end of March.