Car manufacturer to close plants

US car manufacturer Chrysler has closed all 30 of its factories for a month.

The motoring giant claims it is running out of the cash it needs to run the company and will struggle to pay bills early in the New Year.

Chrysler said that operations at the manufacturing plants will not come back online until January 19 at the earliest as it needs to match production to slowing demand, and conserve cash.

Fellow car maker Ford also announced it will close 10 of its North American assembly plants for an extra week in January because of the slumping car market.

Spokeswoman Angie Kozleski said the normal two-week holiday shutdown will be extended to January 12 at all operating assembly plants except one in Missouri and a lorry plant in Michigan.

Those two plants will return to work as normal on January 5. Both make the new F-150 pick-up truck.

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