Last night the United States Congress failed to reach agreement on a loan package in support of the US auto industry. Obviously, we're very disappointed in this development.

The Big Three need the bailout. They’re meeting with Congress today, armed with recovery plans and hope. Auto industry officials are pleading with Congress for a $25 billion government loan. If the Big 3 is denied the bailout, the Chinese auto market will become the dominant auto industry.

Lawmakers deadlocked on a plan to bail out the Big Three automakers, leaving General Motors facing the prospect it could run out of cash before a new Congress can come to the rescue next year.

Something is wrong with the U.S Automotive Industry. It seems that either the carmakers need to change the way they make cars in USA or the car companies may need to change the CEOs or the management, as the CEO's flew to Washington D.C. to seek 25 billion bailout in private jets.

Harvard Economist Martin Feldstein Advocates Auto Bankruptcy, But Auto Bailout Next Year Is More Likely.

Suppliers stand to go belly up if the auto industry fails. Small and medium sized businesses may go out of business if a federal rescue package is not approved soon.

EU officials are taking a close look at how the United States is helping its ailing auto industry.

U.S. Treasury Secretary Henry Paulson opposes a plan by Democrats to use some of the $700 billion financial rescue package to bailout the auto industry and troubled homeowners.

U.S. lawmakers are considering ways to help America's struggling auto industry, which has suffered from rising fuel costs and the shrinking economy.

President-elect Barack Obama, meeting President Bush yesterday at the White House, urged Bush to extend an aid package (WashPost) to automakers by giving them access to some of the Treasury Department's $700 billion economic rescue program.

Changchun, a major manufacturing base of China's auto industry in northeast China's Jilin Province, is expected to see its gross output value of automotive industry reach 245 billion yuan ($35.9 bn), up 21% from a year earlier, the Xinhua news agency reported Tuesday.

After trying to unsuccessfully enact changes at GM three years ago, Kirk Kerkorian has turned his attention to Ford, acquiring a minority stake and bidding for 20 million shares at $8.50.