BBC News - Chrysler repays $7.6bn in government loans: "The repayments include $5.9bn to the US and $1.7bn to Canada.
Plummeting sales forced Chrysler, alongside its Detroit rival General Motors, to turn for help during the global downturn.
US President Barack Obama called the repayment a 'significant milestone' for the US auto industry.
The carmaker was able to make the repayments with cheaper loans from institutional investors and banks, which, it said, would save hundreds of millions of dollars a year in interest payments.
However, the US government stills holds a stake in the company.
'Less than two years ago, we made a commitment to repay the US and Canadian taxpayers in full and today we made good on that promise,' said Chrysler chief executive Sergio Marchionne."
Tuesday, May 24, 2011
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