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US auto bosses go cap in hand again

By Washington correspondent Kim Landers

Posted December 3, 2008 07:00:00
Updated December 3, 2008 08:42:00

United States carmakers have again been hit by plummeting sales as they make their second bid for a massive Government handout.

The top executives of America's three biggest carmakers failed last month to convince a sceptical US Congress to give them a $25 billion loan.

Now they are presenting new business plans to show that their companies could be viable with government help.

The CEOs of Ford and General Motors are also promising to work for just $US1 a year if they get a taxpayer-funded bailout.

Meanwhile Ford sales fell 30 per cent last month, while Toyota has reported a slump of almost 34 per cent.

Tags: business-economics-and-finance, company-news, industry, automotive, international-financial-crisis, united-states