Automobile industry in real trouble with failing bailout plan

Just came to know about the news that the senate has finally rejected the Auto bailout plan and I believe this is a significant jerk and set back for the whole struggling automobile industry not only in the United States of America but in fact across the whole world.

Now since the united states of america has rejected this bailout plan for the automobile industry, i believe that the same treatment will be replicated by the countries in the European Union as well as by the countries in the asian region. 

There was a recent news that several countries including India and Japan were in the process of finalizing bailout plans for their own automobile industries as well and i believe this decision from the senate of united states of america is going make these countries thing twice before finalizing such plans for their countries.

Overall the true matter of fact is that all countries from all over the world are facing severe economic challenges and god knows when the world economy will get back to the right track! Lets hope for the best!