Chrysler LLC cleared another major obstacle to its survival when it reached a tentative deal on concessions with the United Auto Workers union, helping it move closer to inking a vital alliance with Italy’s Fiat Group SpA.

Chrysler’s lenders are resisting efforts to convert most of the car maker’s debt to equity, it was reported today.

Car giant General Motors was warned its future is in “substantial doubt” by auditors, it emerged today.

America’s sinking car industry has told the government it needed even more help to survive than originally thought.

US car giants General Motors and Chrysler could run out of cash within weeks after the Senate rejected a $13bn (€10bn) bailout to rescue the automobile industry.

A $14bn (€10.5bn) emergency rescue for the big three US car manufacturers collapsed in the Senate today after a union refused to accept Republican demands for swift pay cuts.

The Big Three names of the American car industry will lay out plans to the US Congress today to secure more than $25bn (€19bn) of loans to help them survive the worst car sales environment in 25 years.

Car giant Ford plans to build its new Fiesta supermini for the US at a factory near Mexico City, in a blow to American car workers.

The United Auto Workers union in America reached a tentative four-year contract with Chrysler, six hours after going on strike.

The United Auto Workers union and Chrysler remained locked in negotiations this morning as workers in Detroit prepared for the picket lines.

A two-day strike by car workers across the US was set to end today after the United Auto Workers union said it had reached a tentative agreement with General Motors Corp.

Ford Motor Company plans to expand buyout and early retirement offers to the company’s entire US hourly work force of 75,000 as part of a broader restructuring plan aimed at restoring the troubled No.2 American vehicle manufacturer to profitability.

The Dow Jones Industrial averages soared to a five-year high today.