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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.

2011 Dodge Charger revealed

After a few weeks of teasing, Chrysler has revealed the design changes to the 2011 Dodge Charger. We're getting a new front end that includes a sculpted aluminum hood, redesigned front fascia with a new look to the crosshair grille and new headlamps. Out back is a new tail lamp setup that stretches across the rear and uses 164 light-emitting diodes.

Fiat 500 1957 edition hits showrooms this spring

Fiat will introduce its limited production Fiat 500 1957 Edition that will arrive in showrooms late this spring. The Fiat takes design cues from its vintage Italian roots, giving buyers a throwback feel with its interior and exterior styling. Buyers can get into the 500 1957 starting at $21,200 including destination and handling fees.