Shares of other automakers also fell amid increasing concerns about whether the industry could survive a deep downturn in U.S. auto sales.
Credit analysts at JPMorgan said GM has several options to improve liquidity, but added the company's short-term survival will require the help of the government, the company's suppliers, or both.
The US government is considering accelerating loans to the ailing auto industry in addition to an earlier $US25 billion package.
GM's shares closed down 13 pe rcent at $2.92 on the New York Stock Exchange, after earliner hitting $2.76, its lowest since 1943.
GM shares have lost nearly 40 per cent since Friday, when the company reported a large third-quarter loss and said it was quickly running through cash.
An extended slump in car sales has raised questions about the future of the struggling US auto industry.
