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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.

Aston Martin gives luxury makeover to Toyota city car

Luxury carmaker Aston Martin has forged an innovative alliance with Toyota to develop what could be the world's first luxury city car. Aston Martin on Monday released a photo of the Cygnet, which is a Toyota iQ with restyled front sheetmetal. Although officially billed a concept, reports in Britain say that Aston Martin will put the Cygnet on sale next year.

Audi E-tron electric concept at 2009 Frankfurt motor show

By Ben Pulman First Official Pictures 15 September 2009 12:00 This is the Audi E-tron concept car, an electric version of Ingolstadt’s R8 supercar. Unveiled at the 2009 Frankfurt motor show it has four electric motors driving all four wheels, and produces a staggering 3319lb ft. This new Audi E-tron produces over three times more torque than a Bugatti Veyron?