During the majority of the 20th century, General Motors was one of the automobile industry’s biggest companies. General Motors was the largest car maker in the world between 1931 and 2008 (surpassed by Toyota in 2008). By fall of 2008, General Motors was begging the government for it’s share of the bailout to stay afload – despite having experienced two years of steep cutbacks in dealerships and employees nationwide.

G.M received $9 million in federal aid through President Bush in December of 2008. President Obama pushed Rick Wagoner, the chief executive out in March 2009, and gave the company 90 days to restructure itself and become a smaller company that could financially support itself.

General Motors filed bankruptcy on June 1st, and on July 10th, the assets of the company were sold to a government-owned company called Vehicle Acquisition Company– including the Chevrolet, GMC and Cadillac brands of vehicles. The Vehicle Acquisition Company will be renamed General Motors Company, with the federal government maintaining almost 61% ownership and the Canadian government, health care trust for the United Auto Workers union and individual bondholders owning the remainder of the company.

Now, the NY Times reports that even though the company is still losing money, it’s becoming more stabilized after the bankruptcy and has begun to return some fo the $50 billion it’s received through various federal government programs. Analysts of the industry feel it’s too soon to speak whether or not G.M will fully recover just because they’ve stabilized the company.

The 60-day money-back guarantee has been part of General Motors new aggressive marketing campaign to bring car shoppers back to the show room floor. Even after losing four of it’s brands, G.M is holding onto about a fifth of the overall car market in the United States. In the third-quarter, G.M reported profits in China and South American international markets, but the comeback won’t be declared until G.M turns a profit at home – in North America.