GM reports $1.2 billion loss last quarter but is ready to start repaying loans |

In case you loaned GM some money (that is if you’re an US or Canada resident or represent a few other companies), great news, as the company reported a $1.2 billion loss … Wait, what?

Even though the company reported a loss this last quarter, GM’s president and CEO, Fritz Henderson revealed that things are looking up, and that sales are showing a good momentum (thanks to Cash for Clunkers). This translates in the fact that the large corporation, which was bailed out at the beginning of the year, can finally start repaying the US and Canada governments.

The first batch will consist of $1.2 billion and will be made in December, after that, monthly installments are expected to follow towards everyone which gave money to GM.

What do you think about this? Don’t be shy and leave a comment to this article.

Source: Autoblog

Post tags : bailout, General Motors, gm, loss, Sales