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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.

Survey Finds Honda’s Jazz Hits All The Right Notes

YOU won’t usually find much fanfare accompanying Honda’s Jazz supermini, but the compact hatch clearly hits all the right notes as far as its owners are concerned. And this has been confirmed by the latest Auto Express Driver Power survey, with the Jazz scoring an impressive reliability score of 98 per cent. Up 1.2 per cent on its 2013 score, the British built Honda Jazz climbed two places to take the top podium finish in this year’s results.

Honda opens Advanced Design Studio in Los Angeles

Honda inaugurated its new Advanced Design Studio in Los Angeles last week, coinciding with the LA auto show's first press day. It's the third design studio for the Japanese manufacturer in the region and is poised to lead the development of Honda's advanced automobile design activity. The new studio is located in the heart of Downtown LA, which has been experiencing a resurgence in the past decade.