Strapped auto supplier groups to ask government for up to $10 billion in new loan guarantees

NEW YORK — Automotive parts suppliers plan to seek an additional $8 billion to $10 billion in loan guarantees to help them weather a bleak auto sales environment and the bankruptcy court restructuring of major customers GM and Chrysler.

Auto suppliers to request $8-$10B loan guarantees as companies struggle with falling revenue

NEW YORK — Struggling automotive parts suppliers plan to ask the U.S. Treasury Department for $8 billion to $10 billion in loan guarantees to help support their operations.