No need of govt aid in Mar: GM

Posted By: Staff
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Washington, Mar 13: General Motors informed the United States Treasury that it can survive the month of March with out government aid. GM has already received $13.4 bn in aid, and has requested another $16.6 bn.

Earlier GM had asked for $2 million for the month of March. However it is not clear whether the company will ask this amount later in the month or whether it will change its request $16.6 bn. Though GM has stated that its cost-cutting measures are showing results it was not immediately clear how the measures had affected its projected cash burn rate.

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