A recent government report stated that taxpayers are not likely to receive full payment for the loan made to GM. Mr. Whitacre, General Motor’s Chairman, says that General Motors has every intention of repaying the taxpayers $6.7 billion. This excludes nearly a billion dollars that was lent to the old GM that remains in bankruptcy. The remaining $50 billion that was borrowed was given in the form of stock which the U.S. Government hopes to get back from public stock offerings.
Archive for November, 2009
The chief of Nissan has announced plans to produce a small car for sale in India. It will cost less than any other car sold in the world. It should be available in 2011.
The car will be manufactured by Bajaj Auto in India. It will compete with with Tata Motors, Nano, which sells for as little as $2,500.00 and started selling this year. The Nano is a hatch back that can seat up to five people.
General Motors and Toyota have announced that they also intend to sell a low cost car in India.