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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 ...
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 ...
GM's plants were operating at 85% in November 2005, well below the plants of its Asian competitors, and was only maintained by relying on cash incentives and subsidized leases. Rebates, employee pricing, and 0% financing boosted sales but drained the automaker's cash reserves.
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 ...
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 ...
July 25, 2024 at 2:12 PM. By Mike Stone. WASHINGTON (Reuters) - The Pentagon has found $2 billion worth of additional errors in its calculations for ammunition, missiles and other equipment sent ...
On June 1, 2009, the court gave interim approval to GM's request to borrow $15 billion as debtor-in-possession financing, the company only having $2 billion cash in hand. The United States Treasury had argued in court that it was the only source of such debtor in possession funding, and that without the money from the loan General Motors would ...
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]