Compared to previous quarters, General Motors’ performance is improving.
But, CEO Fritz Henderson pointed out, “nonetheless, it’s a loss.”
The U.S. auto manufacturer lost $1.2 billion (USD) in the past quarter, which ended on September 30.
The numbers are not satisfactory, Henderson said at a press conference, but it is a sign the company is starting to emerge from massive debt.
With those numbers in mind, GM believes it will be able to repay the U.S. government ahead of schedule.
The company received $6.7 billion (USD) in government loans and plans to give back $1.2 billion (USD) in December.
The company has until 2015 to repay the debt, but the amount could be paid off ahead of schedule – GM said the slate would be clean by 2011.
General Motors has already backed out of a deal that would have seen Opel, its European unit, sold to Magna.