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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.

Lamborghini Aventador LP700-4: The Commercial

Lamborghini Aventador LP700-4 takes on the landscape There was a time in the dim and distant past (well, the 1980s) when advertising cars was easy – you just made them look as dramatic as possible and hoped viewers would think that buying the car being advertised would imbue them with endless cool. But then the world was made to feel guilt by a new religion which was even better than the Catholic Church at making its followers feel bad for anything in life that feels good – the ‘Global Warming’ believers. These descendants of the ‘Hole in the Ozone Layer’ brigade and the ‘New Ice Age’ predictors’ have managed to frighten a big chunk of the West’s population in to believing they are somehow to blame for our climate change, and in doing so have terrified car makers in to making anything other than fluffy-bunny adverts.

Kia Sportage (2010) – the Promo video

The Kia Sportage 2010 'WOW'. Video below You’ve got to hand it to the Koreans. They have certainly picked up the whole car making game in a way we haven’t seen since the Japanese got their act together a generation ago.