I wonder when the US and Canadian taxpayer thinks they have had enough abuse.
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DETROIT (AP) -- General Motors Corp. says the U.S. government is guaranteeing the warranties of its cars and trucks sold in Mexico.Related Quotes The government announced it would guarantee warranties of vehicles sold in the U.S. starting March 30. The move was designed to stimulate sales by easing fears GM might go into bankruptcy and wouldn't be able to back its warranties.
GM says it will pay part of the warranty guarantee costs and will borrow the rest from the U.S. government. The guarantees cover GM vehicles sold in the U.S. and Mexico during the company's restructuring period.
GM made the statement in its quarterly report filed with the Securities and Exchange Commission on Friday.
GM said it is negotiating a similar program with the Canadian government.