Fritz Henderson, the struggling Detroit carmaker's chief operating officer, said GM would face a liquidity crunch “early in the second quarter” if emergency funds from European governments did not materialise.
“We would try to stay alive, but there's no guarantee we could stay alive,” Mr Henderson said yesterday at the Geneva motor show.
Drawing a clear link between its call for aid from European governments and possible factory closures, GM estimated its excess capacity on the continent at 30 per cent, meaning that three of its 10 European plants were no longer needed.
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