One of the world`s leading financial management and advisory companies, Merrill Lynch said that General Motors Corp (GM) may face the risk of going bankrupt if the US auto market continues to slump, reports Economic Times.
On Wednesday, shares of GM touched a new 54-year low. The auto major will need to raise as much as USD 15 billion in cash to increase its liquidity and face the downturn in the US auto market through 2009.
On the other hand, Merrill Lynch estimates that the company founded in 1908 may need more money to meet the requirements.
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