How much bailout money did the 3 major auto maker receive?
The Big-3 Automakers received a total of $77.6 billion as part of the auto industry bailout in 2008-09.
Ford did not receive any of the funds. Although Ford did ask for a line of credit from the government, they were turned down as they had substantial amounts of cash on hand from mortgaging properties in prior years.
GM and Chrysler, as well as their financing arms GMAC and Chrysler Financial, each received $49.9 billion, $12.8 billion, $13.4 billion and $1.5 billion, respectively. Some of the bailout money was in the form of loans, but a portion of the funds were traded in exchange for an equity position in GM.
The actual loans have been paid off by both GM and Chrysler, ahead of their originally scheduled dates.
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