US government will not get involved in the daily running of a restructured GM
28 May 2009

The US government will take a hands-off approach with a restructured General Motors, even if it becomes a majority shareholder.

If GM is forced into bankruptcy protection, the US government could end up with more than 70 per cent of GM, courtesy of almost $20 billion (£12.5 billion) of government loans extended to the US car giant.

The US government will, as far as possible, not get involved with the day-to-day operations of GM, however.

A government source told Automotive News: “We are reluctant, somewhat involuntary shareholders in this situation. We want to be shareholders for as short a period of time and almost in as inactive a way as we can responsibly be.”

Matt Rigby

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Dallara Stradale
    The Stradale is the first road-legel car from Italian motorsport constructor Dallara
    First Drive
    16 March 2018
    The motorsport constructor's first road car is inspired by Lotus minimalism. Does it thrill on road and track?
  • Hyundai i30 N
    Standard spec is good so paint colour is our car’s only option
    First Drive
    16 March 2018
    What’s Hyundai’s first hot hatch and N-brand debutant really like? Let’s find out
  • Porsche Boxster GTS
    This is the new GTS version of the Porsche Boxster
    First Drive
    15 March 2018
    The 718-generation Boxster is our favourite roadster of the moment – so is this new GTS variant worth the extra outlay?
  • BMW 5 Series
    First Drive
    15 March 2018
    The BMW 5 Series is top of the mid-exec pack, but is there still room for a diesel saloon in everyday family life?
  • Audi A7 front
    First Drive
    14 March 2018
    The new Audi A7 Sportback looks the part, but how does the new Mercedes-Benz CLS rival cope on UK roads? We find out