Financial Times FT.com

US carmakers set for slender lifeline

ByBernard Simon in Toronto and Daniel Dombey in Washington

Published: December 5 2008 18:58 | Last updated: December 5 2008 18:58

Momentum was building among US lawmakers on Friday to throw a short-term lifeline to the beleaguered Detroit car industry even as they expressed fears that the aid could be wasted.

Such emergency aid, required to stave off the imminent collapse of General Motors and Chrysler, would fall short of the $34bn bail-out requested by the two carmakers and rival Ford Motor.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this