GM Says Improved Quarter Shows Signs Of Stability

The government owns 61 percent of the company and has given GM a total of $52 billion in aid, $45.3 billion of which could be repaid when the new GM makes a public stock offering, perhaps as early as next year.

The General Accounting Office, which serves as Congress' auditors, said last week it was doubtful the government would get all its money back. Henderson said that depends on the price of GM stock, which he intends to make valuable by managing the company well.

"It is my mission to disprove the GAO," Henderson said.

GM said its improved performance was fueled by new products, including the Chevrolet Camaro muscle car and the Chevy Equinox and GMC Terrain midsize crossover vehicles. The company's top sellers through October were the Chevrolet Silverado pickup truck and the Impala, a full-size car.

The automaker was also helped by having been stripped of many of its debt obligations in bankruptcy court. Before Chapter 11, GM was weighed down by a huge debt of almost $95 billion. That has since been cut to $17 billion.

GM paid $250 million in interest for the third quarter, far lower than the $1.1 billion it paid in the first quarter.