General Motors Corporation (GM) founded in 1908 is the world's largest auto maker measured by global industry sales. General Motors employs about 2 lakh people around world. General Motors is one of the prestigious brands featuring in the Fortune Global 500 list.
In the recent years the US automakers are bearing the brunt of global credit crisis and are posting huge losses. The 3 peers in US auto industry GM, Chrysler and Ford are facing immense challenge in order to even survive in the current crisis.
GM stock is at a 6 decade low, the company is struggling to raise credit to keep running. Recently Deutsche Bank Downgraded the stock to worthless with a value of $0. The company has asked US government for a bail out. Wall street analysts say that GM could run out of cash and is in path of bankruptcy before the end of the year.
The US Government is considering a $25 billion bail out for the 3 ailing auto makers. But the doubts are even with a bail out GM is likely to stare bankruptcy sooner or later. Further developments are awaited.
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