Feds Close Books on Auto Bailout
The U.S. government lost $9.26 billion in its financial rescue of the auto industry, and closed out its last investment earlier this month six years after initiating the plan.
The U.S. government lost $9.26 billion in its financial rescue of the auto industry, and closed out its last investment earlier this month six years after initiating the plan.
The U.S. Treasury Department closed out its investment in Ally Financial on Dec. 19, selling an 11.4 percent stake in the auto lender and recovering $2.4 billion more than it invested, reports the Detroit News.
However, the bigger picture wasn't as profitable. Treasury recovered $70.43 billion of the $79.69 billion it gave to General Motors Corp., Crysler LLC, Chrysler Financial, and Ally. Ford Motor Co. declined to take financial assistance when the bailouts began in December of 2008. President George W. Bush allocated $25 billion, and President Barack Obama added another $55 billion.
The federal government's loss was better than initially expected. An early-2009 estimate put the loss at $44 billion. The Treasury Department gave final numbers in a Dec. 29 report on the program.
Originally posted on Automotive Fleet
More Operations
How Small Fleets Can Stop Losing Time to Lost Keys
Lost keys can mean delayed jobs, idle vehicles and unexpected replacement costs. See how small fleets are using digital key management to keep vehicles moving and improve accountability.
Read More →
How to Build Custom Fleet Tools With AI and Vibe Coding [Webinar]
A new Automotive Fleet webinar explores how fleet managers are using AI and vibe coding to automate routine work and create simple operational tools without traditional programming skills.
Read More →
You May Be a Fleet Manager (Even If No One Told You)
Managing vehicles may not be your full-time job, but the costs, risks, and responsibilities are still very real. Business Fleet In Motion is here to help small and growing businesses make smarter fleet decisions without needing a full fleet department.
Read More →
Automotive Fleet Opens 2026 Personal Use Survey for Commercial Fleet Managers
Commercial and corporate fleet managers are invited to share how their organizations handle company vehicle personal-use policies, charges, and driver eligibility.
Read More →
Fleet Management Without a Fleet Department?
No fleet department? The work still has to get done. Learn how to prioritize your most critical vehicles, catch problems before they become downtime, and build a simple routine that keeps your small fleet moving.
Read More →
Why the IRS Raised Its Mileage Rate in the Middle of 2026
Fuel-price volatility drove the rare increase to 76 cents per mile, the fifth midyear adjustment since 2000.
Read More →
What Fleet Legends Wish Every Small Fleet Manager Knew
Twelve fleet leaders share the lessons they learned the hard way on leadership, communication, relationships, and building a stronger fleet.
Read More →
We're Back! Business Fleet Returns With a Fresh New Look
Check out our redesigned website with a faster experience and a renewed commitment to serving small fleet professionals.
Read More →
Fleet Impacts Everything Even When It’s Not ‘Fleet’
Small fleet managers do far more than manage vehicles. From operations to safety and retention, fleet impacts nearly every part of the business.
Read More →
DECKED Program Highlights Growing Need for Work-Life Balance Among Fleet Dads
DECKED’s “Dad Time Off” initiative puts the spotlight on work-life balance by giving 100 dads a paid day away from the job.
Read More →