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As for GM, whether bankruptcy actually fixed the company remains an open question, but it is far healthier in its new form. The company closed 14 of its 47 plants, shuttered or sold off its Hummer, Saturn, Saab and Pontiac brands, and slashed its debt from about $46 billion to about $8 billion.

Union retiree health care costs are now the United Auto Workers’ responsibility, and the controversial jobs program that paid idled workers almost a full salary has been scaled back dramatically.

GM employs 209,000 people in the United States today, down from 324,000 in 2004. But it’s making money. Before bankruptcy, GM lost about $4,000 per car. Now it makes about $2,000 each.

AP Auto Writer Tom Krisher in Detroit and Elaine Kurtenbach in Shanghai contributed to this report.