General Motors may consider bankruptcy plea: report

Cash-strapped US auto major General Motors Corp is considering "all options", including bankruptcy, according to a report published on the Wall Street Journal's website.

The report comes after Motors announced an extension of production cuts in the US and Canada for a second week and moves to keep its Oshawa truck plant shut till July next year.

GM sells 95 per cent of its Canadian vehicle production in the US, where vehicle sales have collapsed in the economic and financial downturn.

The report, however, is in contrast with GM's on stated views. Rick Wagoner, its chief executive, had told lawmakers that bankruptcy was not a viable alternative for the company.

The report said GM had, in a statement issued to the newspaper, said its board had in fact discussed bankruptcy, although it may not be a "viable solution to the company's liquidity problems."

Wagoner, along with chief executives from Ford Motor Co, and Chrysler LLC, had discussed the auto industry's problems with lawmakers and sought $25 billion in aid from the government.