INSTANT VIEW: Automakers, UAW announce restructuring plans

NEW YORK (Reuters) - Chrysler LLC and the United Auto Workers union announced a series of sweeping restructuring plans on Tuesday, but the final plans to cut debt and labor costs will still pending.

General Motors Corp is expected to release its plan soon.

The companies are expected to seek billions of dollars more in U.S. government aid, and warned that the current brutal downturn in U.S. auto sales will continue for the next few years.

The following are comments from market sources and analysts about the plans:

COMMENTS:

LINCOLN MERRIHEW, TNS AUTOMOTIVE CONSULTING

"I'm curious to see how the government responds to this plan, but Chrysler has said all the right things. Overall, I'd give them an 'A.'

"If I were the government I'd ask Chrysler a few questions: A. Could you cut production further? One hundred thousand units seems small to me. B. Is Fiat willing to put more in and become a more engaged partner? C. Could there be more models that could be cut to improve sales per model? Is three models enough. I think it's pretty easy to come up with three models to cut that would have no impact on Chrysler's situation."

(Reporting by Nick Carey in Chicago)