Concerned about GM's bankruptcy?

GM has announced that it will hold a press conference on Monday, June 1, in New York City. While the company has not specified what will be discussed, many industry analysts believe it will announce that it is filing for Chapter 11 bankruptcy. (The U.S. Bankruptcy Court in New York is handling Chrysler's bankruptcy.) Even while using a similar streamlined approach as that being used with Chrysler, the federal government has reportedly said that GM would need at least 60 to 90 days to emerge from bankruptcy. (Read: "GM counts down to B Day.")

In the meantime, a lot of car buyers and owners are unclear about how this will affect them. To help answer these questions, we've created a special Auto Crisis hub that looks at the common consumer concerns we're hearing, from warranty and service questions to what you can do if your local dealer closes its doors.

The latter concern is becoming ever more relevant to current GM owners since, according to Automotive News, GM has also said that on Monday it will begin notifying hundreds of dealerships (beyond the approximately 1,100 it has already notified) that the company will not extend their franchise agreements beyond October 2010. This is another step in GM's plan to reduce its dealerships from about 6,000 to about 3,600.

The next few days promise landmark events in the auto industry, so follow the latest happenings both in our Cars blog and in our Auto Crisis hub.

We're also interested in hearing what your main concerns are with Chrysler's and GM's restructuring efforts. Leave a comment below.

—Rik Paul