Rumors of an impending GM bankruptcy has put the car world in a state of frenzy, circulating fears that purchased cars from GM may no longer provide warranties should such an unfortunate event happen. But thanks to the assurance of the US government, motorists who have or are planning to get a GM car need not worry. General Motors Corp. says the U.S. government is guaranteeing the warranties of its cars and trucks sold in Mexico.
The government announced it would guarantee warranties of vehicles sold in the U.S. starting March 30. The move was designed to stimulate sales by easing fears GM might go into bankruptcy and wouldn’t be able to back its warranties.
GM says it will pay part of the warranty guarantee costs and will borrow the rest from the U.S. government. The guarantees cover GM vehicles sold in the U.S. and Mexico during the company’s restructuring period.
(Source) KESQ
Tags: Bankruptcy, car world, Cars, General Motors, general motors corp, GM, gm car, gm vehicles, Mexico, motorists, restructuring, trucks, us government, warranties, warranty