October 14, 2008 / 10:32 AM / 11 years ago

General Motors says bankruptcy not an option

Two new General Motors vehicles sit in a showroom in Melbourne, September 5, 2008. REUTERS/Mick Tsikas

DUBAI (Reuters) - General Motors said on Tuesday bankruptcy for the firm is not an option and called for coordinated federal action to assist the ailing U.S. automobile industry.

“Bankruptcy is not an option that GM is considering,” Maureen Kempston Darkes, Group Vice President and President, GM Motors Latin America, Africa and Middle East, said at a news conference in Dubai.

“It would not benefit our customers, our dealers or our employees.”

“There is a strong need for coordinated federal action,” she said.

When asked whether the group’s financing arm GMAC is an integral part of the group, Darkes said: “Who knows? Times change and we will have to see how that develops.”

“The problems in the markets and credit markets can handicap the pace at which we can transform our business.”

Reporting by Thomas Atkins; writing by Jason Benham; editing by John Irish

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