Automakers seek billions more in loans

Washington —- The leaders of General Motors, Ford and Chrysler and the president of the United Auto Workers union came Thursday to Capitol Hill to discuss billions of dollars more in financial help for the companies that have struggled under a weakened economy.

House Speaker Nancy Pelosi was meeting with the chief executives of Detroit’s automakers to hear their expected plea for an additional $25 billion in federal loans for future health care payments for retirees.

The executives also plan to seek help in accessing money from the Treasury Department or the Federal Reserve.

Congress last month approved $25 billion in low-interest loans for domestic automakers and suppliers to retool plants to build fuel efficient vehicles. But congressional allies of the industry have said the money will not be available fast enough to help the companies.

U.S. auto sales declined to their lowest level in more than 17 years last month, prompting some auto executives to predict dire consequences if the economy doesn’t improve.