UPDATE 1-Obama expects GM, Chrysler to repay loans

Newswire

* GM, Chrysler extended $64 billion * Early "clunker" sales favor cars over SUVs, pickups * Senate defeats bid to restrict future auto bailouts * More aid expected soon for GM, Chrysler WASHINGTON, July 29 (Reuters) - President Barack Obama said on Wednesday that General Motors Co [GM.UL] and Chrysler Group were companies worth saving, but he expects both to repay their government loans. Obama's comments in Raleigh, North Carolina, came as his administration released preliminary ...

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