How much money did GM have during the Great Depression?

Posted by Packard53 On 2007/12/17 21:38:00

I have been doing do research and reading on Opel, the German car manufacturing division of GM.

In October 1931 during the height of the Great Depression GM bought 100 percent controlling interest in Opel for $ 66,724.000 million dollars. In that year the only two car companies to show a profit was Nash and GM.

The figure that I gave for the purchase of Opel should really make a person wonder just how much money GM had in its reserves at that time. Paying 66 million for a company and to be able to keep a money loser like Caddy afloat during the Great Depression.

John F. Shireman