GM profits: 2011 performance 'all about progress'

US car maker GM has announced its biggest ever annual profits, having made $7.6bn (£4.85bn) in 2011, two years after it faced bankruptcy.

Huge losses of $700m in Europe and $100m in South America did not prevent a 62% rise on 2010's profits.

General Motors' chief financial officer, Daniel Ammann, said 2011 had been "all about progress towards our long-term objectives."