F&I Management & Training

Struggling US carmakers General Motors, which owns UK-based Vauxhall, and Chrysler, are to be granted a further $5.5 billion to aid restructuring and stave off bankruptcy. Chrysler looks set to get $500 million as it works to its May 1 deadline to restructure, probably with the aid of a partnership with Fiat. Meanwhile, GM looks set to receive up to $5bn as it works to its June 1 deadline set by the US government. A federal report said the money will be made available to both companies for working capital as they try to meet their respective deadlines.

DATED: 25.04.09

FEED: AW