GM receives Next $5.4 Billion Installment from Treasury

The next government aid injection for GM will be doled out on January 16th according to the U.S. Treasury. The automaker will receive $5.4 billion of the total $13.4 billion that the government pledged in aid.

The new funds will add to the $4 billion that the automaker received on Dec 31 and come from the $700-billion financial industry bailout. GM has been promised another $4 billion in aid, but those funds will come from a second $350 billion tranche which Congress has vowed not to tap until after the Obama administration takes office.

Along with the $6-billion infusion into GMAC, the government is making good on its part to provide financial assistance. It will now be up to GM to get itself back on the right track.

Source: Automotive News