Chrysler survival seen hard without government aid

Thu Nov 13, 2008 5:38pm GMT
 
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PALM DESERT, California (Reuters) - Chrysler Chief Executive Bob Nardelli said on Thursday that it would be "very difficult" for the struggling No. 3 U.S. automaker to survive without government support.

A failure of Chrysler, or another U.S. automaker, would create an "unprecedented" ripple effect that would cause auto parts suppliers to fail and hurt General Motors GM.N and Ford Motor Co (F.N) as well, Nardelli said.

Nardelli said he "totally supports" a U.S. government cash infusion for the auto industry and added that a bankruptcy in the auto industry would be unlike an airline bankruptcy.

He also said that Chrysler must have broader ties with U.S. automakers or alliances with overseas automakers to survive.

(Reporting by Kevin Krolicki)

 
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