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Page last updated at 16:05 GMT, Monday, 16 November 2009

GM 'may repay loan in June'

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The US carmaker General Motors (GM) has said it will start paying back its government loans earlier than expected.

It will make its first payment of $1.2bn (£717m) to the US government in December.

GM had not been required to begin repaying the loan until 2015. The news came as it reported a loss of $1.2bn from 10 July, when it emerged from bankruptcy, to 30 September.

GM chief Fritz Henderson said "we could very well find ourselves repaying the loan in June of next year".

SEE ALSO

Opel U-turn sparks German strikes(01.16)
Mandelson: GM 'must be stabilised'(01.14)

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