US motor industry faces collapse
Updated on 12 December 2008
Talks break down over a US carmaker bailout due to Republican demands that unions back pay cuts for workers at the big three manufacturers.
There are now real fears the US motor industry faces collapse after the $14bn rescue plan for Ford, Chrysler and General Motors failed to win support in the US Senate.
The deal's failure has to led to sharp falls on stock markets around the world.
