The Bush government has declared it will support car manufacturers like General Motors and Chrysler. The government is providing them with an emergency loan of $13.4billion and another $4billion will be on the way in February.



The loan will keep the companies going till the 31st of March. After that, the Obama-led government will review the conditions and decisions will be made whether the company has to be aided or has to repay the loans.

The two auto giants suffered heavy losses as their sales have almost dried up in the past few months. In a speech just before the opening of the market, U.S. President George W.Bush announced that the government won’t have supported the companies and let them go bankrupt as it was the company’s incorrect decisions which led to its own downfall. However, the bankruptcy of these companies could lead to economic issues, and hence the government decided to support them.