General Motors and Chrysler convinced the Treasury Department to issue $3.5 billion in aid to auto suppliers that are connected to the two companies. GM will oversee $2 billion and Chrsyler $1.5 billion of the aid. The money is aimed at stabilizing suppliers who are teetering on the brink of bankruptcy — just as GM and Chrysler are.

Ford Motor Company declined to ask the feds for money, saying it can support suppliers with its own money.

 

Toyota may benefit from the supplier aid even though it isn’t receiving it because two-thirds of its 500 parts suppliers share business with GM. Toyota Motor Sales USA President Jim Lentz said a previous $5 billion Treasury payment to suppliers would help preserve the company’s supplier base. Toyota manufacturers cars in Kentucky, Indiana and Texas.