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10:02 am
Fri July 10, 2009

GM chief says company will make money, repay loans

DETROIT, MI – DETROIT (AP) - General Motors has emerged from bankruptcy protection.

CEO Fritz Henderson says today the new GM will be far faster and more responsive to customers than the old one, and it will make money and repay government loans faster than required.

Henderson says the Detroit automaker completed its 40-day stay under court supervision far faster than anyone thought it could. He says it will repay about $50 billion in government loans ahead of a 2015 deadline.

He says the company now will focus more on customers, including a partnership with the online auctioneer eBay for people to buy vehicles by auction online.

The CEO says the new GM will build more cars and trucks that consumers want and launch them faster than in the past.