US is pulling outta autos

Uncle Sam may finally be getting out of the car business.

The government’s former car czar, Steven Rattner, said yesterday that the US Treasury, which has big stakes in General Motors and Chrysler due to $50 billion in taxpayer loans, is “well on its way” to getting back much of that money, according to Dow Jones.

Separately GM CEO Ed Whitacre said his company intends to clear up all its debt before June.

Whitacre told a Rotary Club meeting in San Antonio that the $5.7 billion it still owes is expected to be paid by then, Reuters said.

He said GM is scoring impressive gains in showroom sales, with a 12 percent jump last month.