Nissan has reported a $479 million profit for the last quarter, a reversal from the loss it racked up a year earlier.

DETROIT – General Motors’ profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall. The Detroit automaker said Wednesday it made $6.43 billion as demand for its vehicles surged late in a year dominated by coronavirus upheaval. The United Auto Workers union called this profit a “testament” to its membership in a statement released Wednesday morning:“Despite a year of a pandemic and loss of production in 2020, General Motors reported a solid profit for North America. This is a testament to our UAW-GM Membership, who produce some of the finest and most sought-after vehicles in the world, right here in the U.S.A.”Read more here. AdLast year: GM churns out profit in 2019 despite strike, slumping sales

General Motors net profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall. (AP Photo/Richard Drew, File)DETROIT – General Motors' profit fell 4.5% in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly air bag recall. GM predicted the shortage will cost it $1.5 billion to $2 billion in earnings before taxes this year due to lost production. Still, GM expects pretax income for the year of $10 billion to $11 billion, or $4.50 to $5.25 per share. Of that, $6 billion would go to electric vehicles and $1 billion would go to autonomous, Chief Financial Officer Paul Jacobson said.

Here’s what you need to know about group disability insurance. Read more on the subject at these websites:For more Money Monday segments, go here.

Do you know what the financial difference is between a business and a hobby? Read more: Can you turn your hobby into a business? 9 things to knowFor more Money Monday segments, go here.