The Bush administration is considering tapping t he $700 billion Wall Street bailout fund to rescue auto makers but said no decision will be made until Bush returns from his farewell trip to Iraq.

Asian auto stocks went into freefall on Friday after the U.S. Senate rejected a last-ditch compromise to bail out U.S. automakers, increasing the chances of bankruptcy among the Detroit Three.

Share prices of carmakers and associated industries fell sharply on Friday as fallout spread from the U.S. Senate's rejection of a bailout for an auto sector at risk of collapse.

The U.S. Senate failed on Thursday night to reach a last-ditch compromise to bail out automakers, effectively killing any chance of congressional action this year.

By shunning government loans, Ford Motor Co.'s top executives say they hope to buff up the automaker's image and set it apart from its cash-starved Detroit competitors.

For the Big Three automakers to win over Washington lawmakers in their bid for federal aid, they will have to address a critical question in the business plans they give to Congress on Tuesday.

If Congress turns its back on the Big Three auto makers—as many expect—investors probably won't drive the stock market off a cliff.

If the US auto industry is to survive, it will have to undergo a major transformation—slashing operations,  focusing on fewer models, shedding dealerships and making better cars, analysts say.

Plug-in electric vehicles from General Motors and Toyota are not expected to hit showrooms for more than a year, but when they arrive, the first buyers will be eligible for a tax credit that could reach $7,500.

Toyota Motor Co.'s Scion brand tops the list of most reliable cars in Consumer Reports' annual vehicle reliability study, as Asian automakers continue to fill the top of the magazine's rankings.

For years, hydrogen fuel cell vehicles have been the far-off technological bets of the auto industry — the car that holds the promise of gasoline-free driving.

Toyota's unprecedented offer of zero-percent financing on nearly a dozen models is trying to make the point that tight credit is no excuse for buyers — in fact, it's literally giving credit away for free.

Shares of some top autos companies were mixed at the close of trading:

Shares of some top autos companies are mixed at noon: