How much money did General Motors get from the government?

How much money did General Motors get from the government?

Earlier today, General Motors announced that the company paid $4.7 billion to the U.S. government and $1.1 billion to the Canadian government, fulfilling its obligation agreed to when it received its initial bailout funds. In total, GM received $52 billion from the U.S. government, but only $6.7 billion of this amount was considered a loan.

What was the bailout amount for General Motors?

The initial $18.4 billion bailout was not enough. In April, GM borrowed another $2 billion. 17  On May 2, 2009, GM stock fell below $1 a share for the first time since the Great Depression. That forced it to require another $4.4 billion to stay afloat.

How much was paid back to GM Canada?

In some cases where GM Canada received loans—or, as they are euphemistically described, “repayable contributions”—it is not clear how much was paid back. Both the company and governments have a history of being opaque on this point.

When did General Motors have to go into bankruptcy?

In April, GM borrowed another $2 billion. 17 On May 2, 2009, GM stock fell below $1 a share for the first time since the Great Depression. That forced it to require another $4.4 billion to stay afloat. On June 1, 2009, GM entered bankruptcy. 18  It had $82 billion in assets and $172.8 billion in liabilities.

Earlier today, General Motors announced that the company paid $4.7 billion to the U.S. government and $1.1 billion to the Canadian government, fulfilling its obligation agreed to when it received its initial bailout funds. In total, GM received $52 billion from the U.S. government, but only $6.7 billion of this amount was considered a loan.

Is it true that General Motors paid back its loan?

Here’s the deal for those who missed that post: Yes, it’s true that GM paid back its loan from the Treasury Department, in full, ahead of schedule. But the debt was only part of the automaker bailout package.

When did the US government bail out General Motors?

The U.S. government lost $11.2 billion on its bailout of General Motors, according to a 2014 government report. The government invested about $50 billion to bail out GM as a result of the company’s 2009 bankruptcy, and at one time held a 61 percent equity stake in the Detroit-based automaker.

What was the revenue of General Motors in 2017?

General Motors annual revenue for 2017 was $145.588B, a 2.41% decline from 2016.