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)

The New York Times editorial board wonders if Detroit’s big three automakers will put their $25 billion loan from the federal government to good use by investing in fuel-efficient vehicles.

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)

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)

While mass transit agencies are struggling with rising costs and surging ridership, Congress is considering loaning $25 billion to struggling automakers to help them make more fuel-efficient vehicles. (New York Sun — Russell Berman)

Americans may be welcoming a temporary drop in the price of fuel, but few are looking to hop back into gas-slurping SUV’s. For U.S. automakers like Ford and General Motors, that’s one more item to add to their list of worries. (New York Times — Nick Bunkley)