The US automobile industry is by far the largest automobile market in the world and is at least twice the size of the nearest competitor. Every Japanese auto major and other Asian Car companies are vying for grabbing a share of the US market.

The US auto market has been dominated by Ford, General Motors and Chrysler, all US companies for for the several decades, but the economic crisis in US in the last two years has forced all the three companies into huge loss.

These auto giants have been surviving on government bailout funds for the last six months, and the new Obama administration has already indicated that further funds will not be provided without an acceptable restructuring plan.

Given the current global scenario, and the accumulated losses in their books, and also their low presence in the fuel efficient car segment, these companies can be expected to vanish out of business by the end of 2009.

To survive the current turmoil and keep growing, these companies need to extract huge concessions from the labor unions and also the bankers and lenders which look very bleak, as of now.