Last month, General Motors requested a $2 billion loan instalment from the government for March. Today the chief financial officer says the company will not need the money this month, thanks to cost-cutting measures.
The news comes from the Associated Press, which interviewed CFO Ray Young. He said that the company has told the Obama administration it won’t need the money this month. Next month, however, is anybodies guess. The company has asked for $2.6 billion in April.
GM has already borrowed $13.4 billion from the government.