General Motors Co on Wednesday said if the U.S. economy continues to recover from the coronavirus pandemic and the auto industry does not ...
REUTERS: General Motors Co on Wednesday said if the U.S. economy continues to recover from the coronavirus pandemic and the auto industry does not experience any further production shutdowns, the No. 1 U.S. automaker should be able to generate enough cash to pay off a US$16 billion loan by the end of the year.
Suryadevara also said GM should repay its US$16 billion revolving credit line by the end of 2020, an action that again depends on a continued economic recovery and annual industry-wide U.S. new vehicle sales of 14 million units this year. Asked whether spiking COVID-19 infection rates were hurting demand anywhere, Chief Executive Mary Barra told analysts GM was"cautiously optimistic," citing improving China and U.S. sales.
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