US carmaker General Motors has posted a $510m profit for the fourth quarter, and of $4.7bn for all of 2010.

The latter figure covers its first full year after bankruptcy, and represents its first full-year profit since 2004 and largest profit since 1999.

During 2008 GM went into bankruptcy protection and was eventually given $49.5bn in government funding.

In 2009 it underwent restructuring, cutting staff and reducing factory capacity as demand for its cars fell.

The firm was also helped by reductions in debt and pension liabilities following the bankruptcy process.

Now strong sales in China and the US are now helping the global car sales market to recover, and GM has benefited.