GM using bankruptcy as an excuse to skip out on auto warranties

[hvactec]

(NaturalNews) I'm sure you have heard of a little car company called General Motors. But did you know it was actually two companies, not one?

It's true. There is the "Old GM," the one that existed before the former No. 1 global car company declared bankruptcy in June 2009. And there is the "New GM," the one that exists now, after receiving about $60 billion in bailout funds, compliments of American and Canadian taxpayers.

Even though the models of automobiles, their logos and their body styles are identical, they were technically built by two separate companies. And GM is using that technicality to get out of honoring warranties on cars built before the company was given the dishonorable nickname of "Government Motors."

Learn more: GM using bankruptcy as an excuse to skip out on auto warranties

 

[boedicca]

Of all the nerve...and after Obama promised that the U.S. would guarantee said warranties.

In a bid to boost flagging auto sales, the federal government will pay for any warranty repairs on a General Motors or Chrysler vehicle if either company can't because of financial problems or a bankruptcy filing, President Barack Obama said on Monday.

"Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always," Obama said in a speech. "Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty."

U.S. will guarantee GM, Chrysler warranties, Obama says - Autoweek