The failures have already started. Last month, Nobel International (NOBL), a maker of laser-welded steel panels used in the Detroit Three's car and truck bodies, filed for Chapter 11.

Also in this beaten-down group: Lear (LEA), which produces seat systems and electronic components in 36 countries. Even after a very sharp rally last week on a Buy recommendation by an automated statistical-analysis trading system, it closed Friday at $2.50. Whether the bears or the automated stockpicker have a better fix on the company's prospects might become clearer Thursday, when the company is scheduled to hold a conference call with analysts.

Patel says that of the publicly traded major suppliers, those whose stocks are trading below $5 are considered to be at most risk. That group includes Lear (LEA), Stoneridge (SRI), Dana (DAN), ArvinMeritor (ARM) and American Axle (AXL), the last of which gets roughly three-quarters of its sales from GM.

Patel says that of the publicly traded major suppliers, those whose stocks are trading below $5 are considered to be at most risk. That group includes Lear (LEA), Stoneridge (SRI), Dana (DAN), ArvinMeritor (ARM) and American Axle (AXL), the last of which gets roughly three-quarters of its sales from GM.

Patel says that of the publicly traded major suppliers, those whose stocks are trading below $5 are considered to be at most risk. That group includes Lear (LEA), Stoneridge (SRI), Dana (DAN), ArvinMeritor (ARM) and American Axle (AXL), the last of which gets roughly three-quarters of its sales from GM.

Patel says that of the publicly traded major suppliers, those whose stocks are trading below $5 are considered to be at most risk. That group includes Lear (LEA), Stoneridge (SRI), Dana (DAN), ArvinMeritor (ARM) and American Axle (AXL), the last of which gets roughly three-quarters of its sales from GM.

Among the stronger companies is the largest North American supplier, Canada's Magna International (MGA), which makes everything from power trains to roofs and bodies. Despite a first-quarter loss, it is in talks to buy a stake in Opel, GM's German unit. However, a sudden run-up in the stock -- from about 20 in early March to the high 30s now -- makes it look pricey. And Standard & Poor's has put Magna on its credit watch list, with negative implications.

Also on S&P's watch list: Johnson Controls (JCI), which supplies seats, doors, panels and consoles to every major global car maker, has $2 billion in liquidity and is well-diversified; Cummins Engine (CMI), a major force in diesel engines; and TRW Automotive (TRW), which is half-owned by the Blackstone Group (BX). Chrysler's bankruptcy filings show that it owes Johnson Controls $50.3 million; Cummins, $44 million; and TRW, about $5 million.