Kochi, Dec. 12 : Volvo has launched the market''s first coach with a multi-axle configuration, taking the inter-city luxury AC coach segment to its next level, which is coinciding with the Volvo Ocean Race in Kochi.

The auto manufacture company Volvo on Thursday offered a special signature series in memory of the Volvo Ocean Race stopover in Kochi.

Washington, Dec. 12 : Efforts to salvage a proposed 14 billion dollar rescue plan for the American auto industry collapsed on Thursday as both Republicans and Democrats failed to agree on the timing of deep wage cuts for union workers.

They have effectively killed the legislative plan and threatened America''s carmakers with bankruptcy, the Washington Post reports.

Stockholm - The Swedish government said Friday it was concerned over the US Senate's failure to agree on a loan package for the troubled US car industry, which owns Swedish carmakers Volvo and Saab.

The news from Washington also impacted the Stockholm bourse that dropped some 3.5 per cent in early trading.

Speaking to Swedish televison news on the sidelines of a European Union summit in Brussels, Swedish Prime Minister Fredrik Reinfeldt said there was "more uncertainty" after the US decision.

Carmaker Volvo is owned by US auto giant Ford while Swedish-based Saab is owned by General Motors. Both US giants have posted huge losses and have said they were considering selling their Swedish subsidiaries.

Washington - A last-ditch effort to pass an emergency loan that would resuscitate the ailing US car industry fell apart late Thursday after negotiations collapsed in the Senate.

After hours of bargaining, Republicans and Democrats failed to agree on a compromise deal.

The bone of contention was the powerful United Auto Workers (UAW) union's refusal to agree to Republican demands for wage cuts and reduction in labour costs to the level of Japanese competitors operating in the US.

Washington  - Negotiations in the US Senate on a 14-billion- dollar emergency loan for the ailing car industry collapsed late Thursday, leaving the fate of General Motors Corp and Chrysler LLC uncertain.

The discussions failed after the United Auto Workers union refused to agree to Republican demands for wage cuts and reduction in labour costs to the level of Japanese competitors operating in the US.

"It's over with. I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight, said Senate Majority Leader Harry Reid, a Democrat.

He later said that there would be "no more work" on the bail-out until the "reconvening of the new Congress next year."

Washington  - Democratic congressional leaders held out hope Thursday that a compromise on an emergency loan for the US car industry was still possible, after another day of haggling with more skeptical conservative lawmakers.

The House of Representatives approved a 14-billion-dollar emergency loan for the car industry Wednesday night, imposing strict oversight rules in exchange for keeping General Motors Corp and Chrysler LLC out of bankruptcy at least until April.

But Senate Republicans vowed to oppose the same deal in the upper legislative chamber, where Democrats hold a much slimmer majority than in the House. They argued the legislation still provides the loan without forcing tougher restructuring moves on the companies.