General Motors said Tuesday its net income fell slightly in 2016 to $9.43 billion because of one-time charges but the automaker's UAW represented workers will receive up to $12,000 in profit sharing, a record, because of booming sales in North America.
For the year, GM's net income fell 2.6% from $9.68 billion a year ago even as its total revenue increased.
"So, it was just a truly outstanding year," said GM Chief Financial Officer Chuck Stevens. "We expect 2017 to be a very strong year from a company perspective and another year of 10% or more in profit margins in North America."