NEW YORK, February 16 (FinanceEnquiry.com) - General Motors (NYSE: GM) have announced the largest annual profits today in its history, just two years after receiving federal bailout assistance to emerge from bankruptcy. GM recorded net annual income amounting to $7.6 billion ($4.58 per share), compared to $4.6 billion in 2010.

Though GM has appreciably increased its net income in 2011, the company's fourth quarterly results were less than expected. With its rivals, Ford Motor and Chrysler Group, having already announced profits for year 2011, it is the first time since 2004 that all the three U.S. Automaker giants were profitable concurrently. GM's earlier maximum profit was $6.9 billion in 1995, $900 million of which came from its units it was in the process of spinning off. Hence, the company considers its earlier record profit to be $6.7 billion, which it earned in the year 1997.