General Motors Corp., Ford Motor Co. and Chrysler LLC may be forced into bankruptcy by slowing economies and dwindling U.S. auto sales, Standard & Poor's analyst Robert Schulz said today.
``Macro factors could overwhelm them at some point'' even with the three biggest U.S. automakers committed to turnarounds, Schulz said in a Bloomberg Television interview. S&P said yesterday it may cut GM and Ford debt deeper into junk on forecasts for 2009 auto demand falling to the lowest since 1992.
GM, Ford and Chrysler are under pressure as the worsening global credit crisis makes it harder for buyers to get loans and dealers to finance their operations. U.S. industrywide sales tumbled 27 percent in September, the most in 17 years.