Nov. 6 (Bloomberg) -- General Motors Corp., Ford Motor Co. and Chrysler LLC chief executive officers, seeking another $25 billion in government-backed loans, will meet today with House Speaker Nancy Pelosi, two people familiar with the matter said.

United Auto Workers President Ronald Gettelfinger is also scheduled to join the 4 p.m. meeting in Washington with Pelosi, a California Democrat, said the people, who asked not to be identified because the session hasn't been announced publicly.

Automakers since August have sought $50 billion in loans, winning half with an Energy Department program to help retool plants to build fuel-efficient models. A stimulus bill that could be taken up before President George W. Bush leaves office may be a chance to get the second $25 billion to aid liquidity.

The three companies, their unions and legislative allies are seeking aid during the worst auto market in 25 years, which caused $28.6 billion in combined first-half losses. U.S. auto sales plunged 32 percent in October to the lowest monthly total since 1991.

``The industry is facing incredible headwinds right now,'' David McCurdy, president of the Washington-based Alliance of Automobile Manufacturers, said in an interview yesterday. ``It's really a liquidity crisis. The cost of a collapse by a big auto manufacturer would be more than the cost of assistance.''

Spokesmen for the three automakers and Pelosi had no comment on the discussions involving GM CEO Rick Wagoner, Ford's Alan Mulally and Chrysler's Robert Nardelli.

GM fell 72 cents, or 13 percent, to $4.84 at 12:33 p.m. in New York Stock Exchange composite trading, while Ford dropped 19 cents, or 9.1 percent, to $1.90. GM and Ford both report third- quarter results tomorrow.

100 Days

President-elect Barack Obama said last week he plans to work with the industry to make it more competitive. Obama has called for a $175 billion stimulus package to follow the $168 billion package signed into law in February.

The U.S. auto industry now faces an important 100-day period, GM North American President Troy Clarke told a group of auto suppliers in Detroit last night in a closed speech, a copy of which was released by the company.

``We certainly intend to make sure the new Obama administration understands and appreciates the immense significance of our industry and the issues facing our business,'' Clarke said. ``The cost of support to the auto industry is cheap when you consider the potential ramifications and future benefits.''

Rules for Loans

Automakers, the UAW and state political leaders have sought support from the Energy Department, the Federal Reserve, the Treasury Department and from Congress.

The Energy Department said yesterday it has moved ahead with one piece of automaker aid as it set the interim rules for as much as $25 billion for the energy-efficient vehicles.

The guidelines were finished in about half the 60-day period set by Congress, potentially giving carmakers quicker access to funds. Lawmakers including House Energy and Commerce Committee Chairman John Dingell of Michigan had pressed the agency to move quickly. Money could start flowing as early as the end of this year.

The UAW is seeking an additional $25 billion in loans for the carmakers for health-care costs, along with Treasury or Fed aid for ``immediate liquidity,'' Alan Reuther, the union's legislative director, said yesterday in an interview.

Six U.S. governors said in a letter released Oct. 30 to Treasury Secretary Henry Paulson and Fed Chairman Ben S. Bernanke that ``immediate action'' should be taken to help boost available funds for the U.S. auto industry.

The $700 billion rescue plan for the financial system can help thaw frozen credit markets that prevent buyers from getting auto loans, curbing vehicle sales, leaders of states including New York and Michigan wrote.

GM sought about $10 billion from the government last month, with CEO Wagoner lobbying in person for help, people familiar with the plans said.

To contact the reporters on this story: John Hughes in Washington at Jhughes5@bloomberg.netAlan Ohnsman in Los Angeles at aohnsman@bloomberg.net.

Last Updated: November 6, 2008 12:34 EST