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Crunch watch Dec 08: the auto industry in crisis

By Tim Pollard and Simon Stiel Motor Industry 31 December 2008 14:05 Wednesday 31 December 2008• GMAC, GM's finance arm, said it would immediately revise its criteria for providing loans, after the US government bail-out of the General's credit arm. It will now supply credit for anyone with a score of 621 or more on the Fico scale, the scale used to assess Amercian customers' creditworthiness (Financial Times)• The news means that 80% of US consumers would now qualify for a loan from GMAC – which should improve sales in the depressed US market (Detroit News)• Chrysler is being lambasted for taking out full-page adverts in the American national press thanking the nation for supporting its auto industry. But critics point out this is a fresh waste of bail-out resources, as pages in the Wall Street Journal – one of the titles in which the ad ran – reportedly cost up to $264,000.

CDN-GM Interactive Design Contest 2013 – Buick Brief [w/Video]

The launch of the third CDN-GM Interactive Design Competition is just days away, and as promised we're revealing more details about the Buick brief. In the CDN-GM Interactive Design Contest, you can display and update your proposals on the competition's website. Interactivity comes into play as your peers critique submissions while GM mentors guide and support you throughout.

Audi shows S3 Sportback (2013) – but is a used S3 a better buy?

Here’s Audi’s S3 Sportback, the five-door version of the 296bhp Quattro hot hatch unveiled last year. The S3 Sportback takes 5sec flat to accelerate from 0 to 62mph, that’s one-tenth of a second quicker than Audi’s official figure for its three-door stablemate. That’s because the initial 5.1sec S3 time was only an estimate, and Audi’s subsequent tests have shown the three-door S3 actually dipping below five seconds in the 0-62mph sprint.