GM'S quarterly profit nearly doubles.

DETROIT-General Motors quarterly profit nearly doubled in the second quarter, beat expectations, as the top American automaker to a greater share of sales globally and increase prices on their vehicles.

Based on bankruptcy, Executive Director of GM Dan Akerson and other executives said the company had stripped the wreck enough cost to make business and thrive even in the weak car market. The first major test for this allegation could provide a decline in industry sales in the second quarter and the risk of double-dip recession.

GM chief financial officer Dan Ammann, "a higher degree of uncertainty," he told reporters. "But what we are trying to do and what we did, the configuration is trade with the low profitability and a strong balance sheet so we can handle either scenario will come."

Earlier in the week fell to its lowest level since the initial public offering of shares of the company in November last year, as investors worried how the GM, if consumers increase their purse strings in the crackling of the economy.

American automaker pushes heavily into smaller, fuel-efficient cars, such as the popular Cruz Chevrolet, but part of its profit still relies heavily on the sale of more profitable trucks in the US market.

Net profit in the second quarter rose to $ 2.52 billion, or $ 1.54 per share, from $ 1.33 billion, which is 85 cents a share, a year earlier.

Earnings per share slipped past in the average of the estimated $ 1.20 analysts polled Thomson Reuters I/B/E/S.

Revenue rose 19 percent to $ 39.4 billion, over $ 36.74 billion that analysts had expected during the quarter in which the US sales of cars into a soft patch.

The results represent the whole of the second quarter from the GM IPO and restructuring in order to maintain the largest u.s. automaker to punish industry profit through cycles of boom and bust.

GM emerged from bankruptcy in 2009 for the taxpayers ' money a bailout of $ 52 billion, orchestrated by the Obama administration. The US Treasury still owns 32 percent of the GM common stock.

The company thanks to its second-quarter earnings before interest and taxes of $ 1 billion by higher prices of its vehicles globally.

GM said its share of global sales increased to 12.2% in the quarter from 14.0% a year earlier.

GM said its operating profit in all regions, including Europe, restructure their unit Opel. It was the first time all four regions have been profitable since the IPO.

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These gains, however, came as their Japanese rivals, led by Toyota Motor Corp., with fewer vehicles for sale due to the earthquake in Japan in March.

Analysts fear that if the US recovery, "dent" in the second half, the GM would be forced to increase the incentives for his vehicle to lure customers. Results for the first quarter of the GM have been marred by a strong motivation, but the automaker dial again these shops.

The automaker also faces a new challenge in the second half as Toyota and other automakers go back to the level of production of the whole and take a look at a lost sale.

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For the second half of the year, GM expects its adjusted profit before interest and taxes "slightly" lower than in the first half, but the whole year leads to improvement after 2010.

GM ended the quarter with a total liquidity of almost $ 40 billion, from $ 36.5 billion at the end of June. However, investors will likely have to wait for share buybacks or dividends as the company would focus on Ammann maintain his "fortress balance sheet" to invest in business and endure any economic shock.

Copyright 2011 Thomson Reuters. Click constraints.

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