American Axle & Manufacturing Holdings Inc's auditors have said the auto supplier may go out of business because of pressure on its main customers, General Motors and Chrysler , the company said on Friday.

Should (the company) fail to be in compliance with these covenants and we are unable to obtain a waiver or amend these covenants, we may be unable to continue as a going concern.

On March 4, the company was warned by the NYSE that it might be delisted, a factor it also cited as putting pressure on its ability to stay afloat.

Last month, U.S. auto suppliers submitted a request to the U.S. Treasury to secure emergency funding to avoid a wave of bankruptcies and a deeper crisis in the auto industry.

(Reporting by Christopher Kaufman; Editing by Lisa Von Ahn)

Chrysler