Obama “Bailed Out” Auto Makers, Now “Takes Over” — In China, Vouchers Electrified Sales

Despite massive government “bailouts,” GM says the bulk of its future cars will likely be made in China, Mexico and South Korea….

GM could still face bankruptcy: it owes a report to the Obama administration by June 1st.

And Chrysler’s fate is unknown.  It is in bankruptcy court now with a deal on the table to include Fiat and others….

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From The Associated Press:

Vehicle sales in China jumped 25 percent in April from the year before to a record monthly high of 1.15 million units, according to industry figures. Passenger car sales surged 37 percent over a year earlier, to 831,000, outpacing sales in the United States, where 820,000 units were sold in April. After slowing late last year as the impact from the global financial crisis deepened, China’s auto sales have risen for five consecutive months.

Related:
Obama-Fiat-Chrysler-Union Plan Includes U.S. Made Luxury Alfa Romeo; Sub-Compact Made in China, Mexico, Korea
.
Under Restructuring, GM To Build More Cars Overseas

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