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GM says it won't need $2 billion aid for now

Post Time:Mar 13,2009Classify:Industry NewsView:140

General Motors Corp. said Thursday it has enough cash to keep operating through the end of March and won't need the $2 billion government infusion this month it had requested.

While GM indicated it still will need additional government aid, the auto maker said its cost-cutting moves and spending deferrals in January and February successfully held off the need for more U.S. funds this month.

GM spokeswoman Julie Gibson said March's cash-flow performance was better than expected. The Detroit company has received $13.4 billion in emergency government loans and asked for as much as $16.6 billion more, according to a March13 article in The Wall Street Journal.

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Source: http://www.glassmagazine.com/news-item/auto/gm-says-it-wont-need-2-billion-aid-nowAuthor:

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