GM Lost $4.3 Billion Dollars in Bankruptcy, Almost As Much as U.S. Public

GM has announced its financials for the period spanning July 10 and December 31. Despite significant government investment, GM managed to bleed more money–$4.3 billion to be exact. I’d feel pretty bad for them if the U.S. didn’t already put $50 billion into the company. That figure kind of makes the $4.3 billion look paltry.

On the positive side, GM says that much of its losses were due to one-time payouts and it might even turn a profit this year. The company has gained market share and seen increasing sales and production as of late.

“General Motors should never again be in the financial position it found itself in last year,” GM Chief Financial Officer Chris Liddell said during a conference call with analysts and media.

The company intends to pay back remaining money from $6.7 billion in U.S. government loans by June. [via AP]