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GM posts healthy profit

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One auto manufacturer reported good news today while another again deals with bad news, according to Reuters.

General Motors Co. (GM) posted a profit of $4.7 billion for 2010, its first full-year profit since 2004, in its first full year after a landmark bankruptcy.

That marked GM’s largest profit since 1999, when it earned $6 billion on booming sales of trucks and SUVs.

Toyota Motor Corp., though, recalled nearly 2.2 million vehicles today over the risk that their accelerator pedal could be trapped by loose or misplaced carpet on the driver’s side.

The decision to recall the vehicles was part of an agreement the car company made with U.S. regulators, who in return agreed to close their investigation into the safety crisis that caused nearly 8 million vehicles to be recalled in 2009 and 2010.

“The reality is there is a continuation of problems that are going to haunt the company until they get to the real root of the issue,” said Sean Kane, president of Safety Research & Strategies Inc.

As part of the latest move, Toyota added nearly 1.4 million vehicles in the United States to a late 2009 recall of vehicles over the risk that the floormat could pry loose and trap the accelerator pedal. Toyota is also recalling a range of vehicles from model years 2003 through 2011.