AM Online

Big day for GM and Chrysler

General Motors and Chrysler are due to present their viability plans to US politicians this afternoon.

Today is the first deadline set for the two carmakers to prove they are making progress in cutting costs and debts, in order to lobby for more state aid.

Both carmakers will make it clear that they need more financial support from the US government while slashing costs by closing plants and restructuring some of their brands and retail networks.

Chrysler is expected to make much of its potential alliance with Fiat, while GM is predicted to shed some of its brands, notably Hummer, Saturn and Saab.

President Barak Obama's administration has created a committee to oversee the US manufacturers' restructuring.

The Presidential Task Force on Autos will be headed by two of Obama's top economic officials.

 



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