Their massive losses are mostly from that thing in the fall. They posted profits in just about all of their other markets and had greater total sales this past year than in 2006.
http://www.reportonbusiness.com/serv...080212.wgm0212
In fact, if it weren't for the lost tax credits and such, they would have probably turned a profit. Most, if not all, of the money that was lost wasn't real, even though it looks massive.
2007 was a so so year for GM, in my mind.
2008 will see a large number of sales of the Malibu, CTS, continued sales of their crossovers, the G8, and so on. Nearly every brand new vehicle the GM has released in the last year is kicking ass. 2008 will reap those benefits that begun in the fall. And in 2009 the Camaro will hit showroom floors.