That GM Chapter 11 plan?
It's still sounding good.
The U.S. auto industry needs even more help from the government to survive than originally thought.Help
General Motors Corp. on Tuesday said it could need up to $30-billion (U.S.) from the Treasury Department to keep operating. Included in that amount is $13.4-billion the company has already received. Previously, GM had said it could need as much as $18-billion.
GM and Chrysler LLC said Tuesday they'll need billions more in government loans than they predicted just two months ago. The two auto makers also plan further job cuts and additional curtailment of auto production.
Both companies plan to reduce the number of models they offer to car buyers over the next few years.