The US government expects to lose $30 billion (£18bn) of its $82bn (£50bn) bailout of the car industry.
However, that's an improvement on initial estimates, which suggested it would lose $44bn (£27bn).
President Barack Obama said: "We also took steps to prevent the rapid dissolution of the American auto industry, which faced a crisis partly of its own making, to prevent the loss of hundreds of thousands of jobs during an already fragile time.
"These were not decisions that were popular or satisfying; these were decisions that were necessary."
GM received $50bn (£31bn) in loans, the vast majority of which the government swapped for stock in the company. It is now set to start repaying the loan from 31 December.
Chrysler received $12bn (£7bn) in government loans, of which Fiat - which now owns 20 per cent of the company - must pay back half before it is allowed to take a majority stake.
Car finance company GMAC also received $13.5bn (£8bn).