GM, like its Detroit rivals, is in good shape to weather the acute phase of the novel coronavirus pandemic. Its factories in North America are shut down, but it has appropriate inventories and plenty of cash to keep its future-product programs on track.
GM said on Tuesday that it is drawing down about $16 billion from its existing lines of credit to bolster its cash reserve, which will allow it to keep its future-product programs on track through and after the shutdown period. (Unlike rival Ford Motor, GM hasn’t suspended its quarterly dividend — yet.)
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