One year ago today, General Motors filed for bankruptcy and became the fourth largest U.S. bankruptcy on record. President Obama vowed to turn GM around and make it a profitable company once again. We look at how GM has changed in the past year with the help of Rebecca Lindland, an auto analyst for IHS Global Insights, and find out how the rest of the auto industry is doing as well.

Chrysler filed for Chapter 11 bankruptcy yesterday. It was the first major automaker since Studebaker in 1933 to attempt to restructure under bankruptcy. Three years later, Studebaker emerged from bankruptcy and managed to stay alive for a few more decades until 1966. Joining The Takeaway is Rebecca Lindland from Global Insight, a financial forecasting company; and Robert Farago, a blogger for The Truth About Cars.