US car industry bill facing Senate opposition

A £9bn (€6.74bn) bailout of the US car industry looked set to encounter problems passing the Senate despite urgent appeals by both President-elect Barack Obama and President George Bush today.

Two of Detroit’s so-called Big Three car manufacturers, General Motors (GM) and Chrysler, have said they need the $14bn (€10.48bn) of federal loans if they are to survive beyond the end of the month.