Detroit - General Motors’ second-quarter profit more than doubled to a post-bankruptcy record $2.87 billion on a strong performance in the U.S., where the company saw sales fall after it cut low-profit sales to rental car companies. It raised its earnings guidance for the year.

The company earned a record $3.6 billion pretax profit in North America, made $500 million on its joint venture in China and even eked out a $137 million profit in Europe, its first five years. But it lost money in South America due to economic woes and profits were nearly halved in international operations due to struggles in the Middle East.

Yet GM sees the good times continuing in the U.S., its main profit center, even though sales fell 4.4 percent during the first half of the year and its market share dropped a full percentage point to 16.6 percent, the lowest level since at least 1980.

Chief Financial Officer Chuck Stevens said the company’s retail sales to individual buyers were up due to strong demand for high-profit pickup trucks and SUVs, plus the impact of redesigned vehicles such as the Chevrolet Malibu and Cruze sedans and the Cadillac XT5 SUV.... Read More: VIN