General Motors Corp. Chairman and CEO Rick Wagoner sent a memo to workers in November assuring them bankruptcy isn’t an option for the world’s largest automaker, but concerns about GM’s financial health persist. The company recently announced a plan to cut 30,000 jobs and close 12 facilities by 2008. Next year, the automaker, which has a Fort Wayne plant, plans to sell a majority stake in its profitable finance arm, GMAC, to raise cash.

Ford Motor Co. is expected to announce its own restructuring plan in January. The nation’s No. 2 automaker had its share of turmoil this year, including an expensive bailout for its former parts division, Visteon Corp.

Despite the gloom in Detroit, 2005 will end on a fairly high note. Analysts are predicting full-year sales of around 17 million vehicles, a healthy pace that has held steady over the past 6 years.