With the auto industry getting hit on all sides amidst the economic crisis and credit crunch, Detroit giants G.M. and Chrysler are considering teaming up in a historic merger. (New York Times — Bill Vlasic and Andrew Ross Sorkin)

A prominent industry tracking firm suggests that the car market could cave in next year due to economic insecurity and the credit crisis. (Reuters)

Shortly after being guaranteed a $25 billion loan from the government to make energy efficient vehicles, U.S. automakers announce some dismal news for the industry — sales have dropped 26.6 percent from a year ago, and September marked the first time since 1993 that fewer than one million new cars and trucks were sold in [...]

U.S. automakers are months away from being able to use $25 billion in low-interest loans from the federal government. (Associated Press — Ken Thomas)

Amidst the high-profile discussion over a massive bailout of the financial industry, the U.S. House quietly approves a $25 billion loan guarantee to help Detroit automakers build more fuel-efficient cars. (Los Angeles Times — Richard Simon)

Democrats and Republicans in Congress — along with both presidential candidates — are supporting a plan to provide $25 billion in loan guarantees to struggling American auto manufacturers. (New York Times — David Herszenhorn)