Thaindian News

By Ranjan Bhaduri
Nov 19, (THAINDIAN NEWS) Troubled car maker General Motors commonly refereed as GM which is the owner of iconic car brands like Cadillac and Chevrolet returned to the Wall Street and the incident made the share market upbeat. The car maker which was hit badly by the US economic meltdown two years back applied for Bankruptcy and was subsequently rescued by the US government. However, the company seems to be back in form as it made the beginning of its sophomore innings at Wall Street amidst much enthusiasm and excitement. The return of GM as a public company has also made waves in the political circles of USA with President Barack Obama slamming the GOP for their reluctance to the bailout.

The return of GM on the stock market has also left an impact on the stock prices of its rivals including Ford Motors. The GM also released its IPO which created a buzz in the market. The CEO of Nissan Carlos Ghosn is also upbeat about the incident. He said in an interview that it should be seen as a positive development for the auto industry. In an interview given to a media outlet he shared his candid views on the comeback of GM.

The Nissan CEO said though GM is rival company Nissan shares common suppliers and dealers with it. However, he did not say anything on the possibility of a collaboration between Nissan and GM in the future. He said that the revival of GM will result in job creation and renewed customer interest in the auto industry which will yield positive results in the end.