With their first federal loan cheques in hand, General Motors and Chrysler are entering complex talks with creditors, unions and others on restructuring measures aimed at convincing Washington they can become more competitive and financially viable companies.

In conference calls, one-on-one and group meetings, the two Detroit carmakers will seek deep concessions from bondholders, dealers, suppliers and the United Auto Workers’ union to satisfy conditions of $17.4bn of emergency bridge loans approved by the US Congress last month.