Appetite for Cadillac boosts GM prospects

General Motors Co is firing on all cylinders, selling 10 million cars in a year for the first time, and riding a big gain in China with record sales for Cadillac.

The fourth-quarter and 2016 calendar-year results showed equity income in China of $500 million for the quarter and $2 billion for the year.

GM sold 3.04 million vehicles in the United States in 2016. The record sales last year lifted GM to a record operating profit of $12.5 billion, up 16 percent.