Three years into their forced marriage with GM, the American taxpayers have seen the value of their investment in GM deteriorate by approximately $24 billion.
Since GM's IPO almost two years ago, the broader S&P 500 has gone up about 30%. During that period, Ford shares have gone down about 15%, Toyota up about 15%, Honda up about 5%, Nissan up about 35%, Hyundai up about 60% and Volkswagen up about 85%. Make no mistake; GM is vastly under-performing the industry, despite an influx of approximately $50 billion of taxpayer funds.
What a waste of taxpayer money.