Auditors for American Axle and Manufacturing Holdings Inc. have warned the company that the pressure of the financial concerns of its principle customers, General Motors and Chrysler LLC, may drive the company out of business this year.

In its SEC filing, American Axle wrote, "As a result of the current automotive industry environment and the uncertainty relating to the ability of GM and Chrysler to continue operating as going concerns ... it is uncertain whether we will be in compliance with the financial covenants . . . throughout 2009."

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

Only last week, auditors for General Motors cited "substantial doubt" that the automaker could continue to function outside a bankruptcy proceeding unless the company can check its losses and slow its cash burn.

In December both GM and Chrysler were given $17.4 billion in government loans and have asked for an additional $22 billion. The government has until March 31 to decide if the companies are indeed commercially viable and thus eligible for further government funds.

In February, U.S. auto suppliers requested $18.5 billion from the U.S. Treasury to stave off bankruptcies that would trigger an even larger automotive industry crisis.