GM cars being unveiled
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General Motors reveals record $7.6bn profits

US car company General Motors has reported record $7.6bn (£4.85bn) profits for 2011, even with large losses in its European and South American operations.

The company was facing bankruptcy two years ago, but aggressive cost cutting, a management shake-up and a government bailout helped it weather the storm.

Caroline Hepker reports from New York.

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