Chrysler announced today that it will close all 30 of its auto manufacturing plants for at least a month starting at the end of shifts on Friday as it tries to conserve cash and avoid bankruptcy amid plunging demand for its vehicles.

    The company, the third-largest U.S. automaker, said in a statement that it is taking the action to bring its inventories more into line with reduced U.S. demand for new cars and trucks. It blamed its current difficulties largely on customers' inability to obtain financing to purchase new vehicles

    Chrysler said manufacturing operations would resume at the earliest on Jan. 19. Two factories in Toledo, Ohio, that make the Jeep Liberty, Jeep Wrangler and Dodge Nitro will be closed until Jan. 26, the company said. A minivan plant in Canada and a plant in Detroit that makes the Dodge Viper will remain shut until Feb. 2, Chrysler spokeswoman Shawn Morgan said.

    The move essentially extends a traditional two-week shutdown period over the Christmas and New Year's holidays. The two biggest U.S. automakers -- General Motors and Ford -- have also said they are extending their holiday shutdowns.

    Chrysler's decision follows a 47 percent drop in U.S. sales in November.

    Because of customers' difficulties in obtaining car loans, Chrysler dealers say they are increasingly unable to close deals and that sales volumes have plummeted.

    For the first 11 months of this year, Chrysler sales are down nearly 28 percent from the same period last year.

    Now, Chrysler says, it is approaching the minimum level of cash it needs and will have trouble paying its bills after Jan. 1.

    Chrysler and GM warned last month that they could run out of cash by the end of the year without financial aid from the federal government. Chrysler expects to have only about $2.5 billion on hand by Dec. 31, the minimum needed to pay employees and suppliers and keep the company running.

    Earlier this month, Chrysler joined General Motors and Ford in asking Congress for at least $34 billion in bridge loans and lines of credit to keep the Big Three U.S. automakers solvent.

    Lawmakers crafted a plan to provide $14 billion to GM and Chrysler in short-term financing in return for restructuring to ensure their viability. But the plan died in the Senate when Republicans came out in opposition to it despite White House appeals. A GOP alternative also failed when the United Auto Workers union would not agree to specify a date when members would accept pay reductions to bring their compensation into line with that of non-union workers in U.S. plants owned by foreign automakers.

    The UAW complained that it was being asked to make much heavier concessions than other parties to the talks.

    Chrysler's unionized workers will be paid during the hiatus in plant operations, the company said.