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On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
t. e. The 2008–2010 automotive industry crisis formed part of the 2007–2008 financial crisis and the resulting Great Recession. The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry. The downturn also affected Canada by virtue of the Automotive Products ...
The Car Allowance Rebate System ( CARS ), colloquially known as " cash for clunkers ", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel-efficient vehicle when trading in a less fuel-efficient vehicle. The program was promoted as a post-recession stimulus ...
Some GM and Ford EVs will lose the $7,500 federal tax credit this year, but GM is taking steps to make sure it's only temporary. GM to offer $7,500 discount on EVs that don't qualify for tax ...
General Motors maintains a huge cash reserve, over $20 billion worth. That has led many observers to ask: Why doesn't GM return that cash to shareholders with a big dividend, or invest it in ...
The U.S. Department of Veterans Affairs said it had to recoup special separation payments from more than 17,000 veterans in the 2018 fiscal year — the highest annual amount so far.
Without a federal loan, GM expects its cash reserves to fall to $10.1 billion by year's end and to fall to $3.6 billion by February. [ citation needed ] Chrysler LLC predicted that for the 2009 model year, 73% of its vehicles will be more fuel efficient than their 2008 models, and the company planned to launch more small, fuel-efficient ...
The Colorado ZH2 is the product of a joint venture between GM and TARDEC—the U.S. Army’s Tank Automotive Research, Development, and Engineering Center. [8] SURUS - Silent Utility Rover Universal Super Structure Modular military platform GM-U.S. Army collaboration on a modular experimental light- and medium-duty fuel-cell truck platform. [9]