The car sector claimed its first two top-level victims on Sunday when Rick Wagoner and Christian Streiff were ousted from General Motors and Peugeot Citroën, respectively, as both executives failed to navigate the huge challenges facing the industry.

Mr Wagoner is to step down as chief executive of GM after eight years at the request of the White House ahead of President Barack Obama’s announcement on Monday on the auto industry, administration officials said on Sunday.