NADA Statement on GM Repaying Government Loans Early

WASHINGTON, April 22 /PRNewswire-USNewswire/ -- The following is a statement from the National Automobile Dealers Association (NADA) regarding General Motors Company paying back its government loans:

"Strong sales of GM's brands -- Chevrolet, Buick, GMC and Cadillac -- through a network of thousands of GM dealerships across North America have enabled the company to repay more than $8 billion in loans from the U.S. and Canadian governments way ahead of schedule.

"While tough challenges still remain, this is a positive development for taxpayers and a positive sign for auto manufacturing and retailing that will help contribute to an overall economic recovery."

About NADA: The National Automobile Dealers Association, founded in 1917, represents nearly 17,000 new-car and -truck dealers operating about 37,500 separate franchises, both domestic and international.