Find or Sell any Parts for Your Vehicle in USA

GM pays back government loans

Wed, 21 Apr 2010

General Motors Co. said it has repaid the U.S. and Canadian governments $5.8 billion for loans that helped fund the U.S. automaker last year.

GM owed the U.S. government about $4.7 billion and the Canadian government, $1.1 billion. The automaker emerged from bankruptcy last July.

"Our ability to pay back these loans less than a year after emerging from bankruptcy is a sign our plan for building a new GM is working," GM CEO Ed Whitacre said in an opinion piece in Wednesday's edition of the Wall Street Journal.

GM had a good sales month in March, recording an increase of 33,000 units.




By null