General Motors Number One Again

U.S. manufacturer surpasses Toyota as top automaker in the world.
2:38 | 01/19/12

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Transcript for General Motors Number One Again
Big comeback for the USA as of tonight General Motors is back on top once again the number one automaker in the world. Leaving the giant Japanese rival Toyota in the dust. So how -- GM come roaring back and what is the secret for -- -- other jobs in this country ABC's David York has -- he's here right now -- -- -- Diane this was an unthinkable headline just two years ago but tonight General Motors as Diane mentions is back on top. The world's top selling auto maker GM is making money again. -- every corner of the globe North America to Europe and South America to Asia sales of GM cars and trucks -- car. With -- seven billion dollars in profits its final figures are expected to go higher 640000. More cars and trucks sold last year and you before. He did love you -- -- millionaire yeah okay. It was hardly -- journey Dinah Shore once dreamed of grueling road -- GM's 2009 bankruptcy and the taxpayer rescue. -- has now paid back nearly half of that it's clearly a comeback story and and one of -- notable aspects of it is that they've been able to achieve this. Sales success but not using the incentives that they might have used in years past and without those incentives are rebates he -- GM had to -- the quality. It's about -- brand new signs of Ford's turnaround to. The answer that question for many Americans is yes sales up 11% last year. Tonight board is now planning to give raises to 20000 employees. Contributing more to their 401K. Union workers under a new four year contract signing bonuses and profit chair that John change of fortune keeping Ford was thirty billion in the red. The -- Lucas of Dearborn Michigan they've had for generations who worked before assembly line workers. -- been prayers at the dinner table about the auto maker's future. For borrowing 23 billion in private loans to get back on track we pressed forward CEO and its staggering figure. How much of that 23 and a half billion do you feel -- that -- every play 181 billion. Of the original 23 and a half and they're almost there we're almost there. A recent sit down there with Ford's CEO and industry insider pointed out to me today that one thing Ford -- GM had to do was to pare down their product lines. In simply make the cars and trucks that they are still selling better. Making them more competitive in quality in the long run and Diane. We -- Japan's Toyota had a rough here with the tsunami so they're back in force this coming -- but the American auto makers it was a -- -- wind at their back now. -- -- Comeback kids.

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