Struggling automaker General Motors reported a $6 billion loss during the first three months of the year Thursday, and said it will need more government loans soon as it tries to come up with a plan to stay out of bankruptcy.
GM (GM, Fortune 500) burned through $10.2 billion in cash in the quarter, leaving it with only $11.6 billion in cash on hand at the end of the period. The company says it needs between $11 billion and $14 billion on hand to continue normal operations.
Most of the cash GM burned in the quarter came from the $9.4 billion in government loans it got during the first three months of the year. GM has received $15.4 billion in federal assistance since the end of last year.