The Obama administration said on Tuesday it was monitoring its investments in U.S. automakers General Motors Co and Chrysler Group LLC with an eye towards selling those stakes when possible.

The government will continue to monitor its investment in these companies with the goal of selling the government investments in these firms as soon as practicable and recouping the investment made by taxpayers in these companies, the White House Office of Management and Budget said in its mid-year budget review.

(Reporting by Jeremy Pelofsky, editing by Gerald E. McCormick)