Rick Wagoner, forced by the Obama administration to resign as head of General Motors Corporation (GM) on Monday, might relate to the psalmist's lament, "My God, my God, why have you abandoned me?" The administration put both GM and Chrysler on notice that they won't get another round of federal aid unless they come up with a more aggressive restructuring plan, and has made it clear they're prepared to let the companies fall into bankruptcy.

Fritz Henderson, GM's new chief executive, said Tuesday that more of the automaker's plants could close and bankruptcy is "more probable" as GM works to meet new, tougher requirements for government aid.

In his first news conference as CEO, Henderson said he expects GM would "need to take further measures" beyond the five plants the company said it would shutter when it submitted a restructuring plan to the government last month. GM also is likely to offer another buyout program to workers as it looks to cut labor costs, Henderson said.

In an effort to increase sales, GM launched a "Total Confidence" program that will make car payments for customers who lose their jobs through no fault of their own. Ford Motor Co. announced a similar program Tuesday.

Meanwhile, sales of new vehicles in the U.S. fell dramatically in March but picked up in the month's final week, giving automakers reason to hope the market may be at or near its bottom.

"We think we're getting close to turning the corner," Ford's senior United States economist, Emily Kolinski Morris, said. Michael C. DiGiovanni, GM's chief sales analyst, said vehicle sales could start improving even before the overall economy does, provided consumers begin to see positive signs like more stable home prices.

Source: Articles by Nick Bunkley for the New York Times and Kimberly S. Johnson
and Tom Krisher for the Associated Press