Cupcakes all around!
Government General Motors emerged from bankruptcy today, and the shiny new version of GM is now leaner, in charge, and ready to manufacture cars that people actually want to buy. Maybe.
General Motors is dead. Long live General Motors! The U.S. bankruptcy court has approved the sale of General Motors to the new General Motors, which is owned by the U.S. and Canadian governments, the provice of Ontario, a United Auto Workers benefits trust fund, and bondholders of the former GM. Consumer Reports Cars]
The U.S. and Canadian governments now own a substantial portion of General Motors. If that means that us taxpayers are the real owners. So Consumer Reports Cars wants to know: what do you think GM should make?
So, General Motors is bankrupt, and the “GM” brand now essentially stands for “Government Motors,” since the restructured company will largely be owned by the U.S. and Canadian governments. But what you really want to know is whether you should consider buying one of those cars your tax dollars are building. Consumer Reports has an FAQ on the subject, along with this quick video from the company’s head of auto testing. Tweetable version: There are great deals, but get a decent car. CR likes the Malibu and CTS. Be prepared for inconveniences, like local dealers closing shop.