US President Barack Obama has unveiled plans to support the ailing American auto industry. The White House has forced General Motors head Rick Wagoner to resign, and has asked GM to further consolidate its brands in exchange for 60 days of working capital. Meanwhile Chrysler received just 30 days of operating capital to finalize a proposed merger with Italian carmaker Fiat. Fiat Group CEO Sergio Marchionne says a Fiat-Chrysler alliance will strengthen Chrysler's finances, preserve American jobs and accelerate Chrysler's efforts to make fuel-efficient vehicles. Obama also suggested adopting similar schemes to those in some European countries to encourage consumers to buy new cars. A German scheme, which offers 2,500 euros for trade-ins of older cars, boosted annual new car sales in the country by more than 21%.