This week General Motors announced it had made record profits last year, knocking Toyota Motors down to be the world’s largest automaker. In 2011, Toyota beat GM’s seven-decade reign as the best-selling car maker in the world.

GM emerged from bankruptcy two years ago following the highly controversial government bailout. In 2011, GM sold 9 million vehicles world wide, a 7.6 percent increase. The company’s profit increased 62 percent to $7.6 billion. This is the first time in nearly eight years that Ford Motor, Chrysler Group, and GM have all been profitable at the same time.

In lieu of the good news, GM’s stock has increased by six percent today to $26.42 a share.

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