General Motors, battered by the slowest U.S. sales market in 15 years, faces the possibility of bankruptcy and may need to raise as much as $15 billion, a Merrill Lynch & Co. analyst said. The automaker's shares fell the most in 20 years. The “dramatic drop-off” in sales probably will continue through 2009, forcing GM to find additional funding, analyst John Murphy, who lowered the Detroit-based company's shares to “underperform” from “buy,” said in a report.

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