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Crunch watch Dec 08: the auto industry in crisis
Wed, 31 Dec 2008By 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.
Who's Where: Peter Arcadipane appointed BAIC's design director
Fri, 14 Jun 2013Peter Arcadipane has joined BAIC as its new design director. Based at its new hi-tech design facility in Beijing, China, he oversees a team of around 130 designers. The Australian designer, formerly of Mercedes-Benz, has been challenged to steer state-owned BAIC towards a more coherent and strategic position within China, with its chairman wanting to take the carmaker more upmarket.
Volkswagen Are Rally Champs For Second Year Running
Tue, 16 Sep 2014ANOTHER year, another title – that’s the news from down under as Volkswagen has secured the World Rally Manufacturers’ Championship for the second year running after a clean sweep at the Rally Australia round. After a tense battle over the weekend, with Brit Kris Meeke leading for Citroen at one point, Volkswagen eventually took all three podium steps as Sebastien Ogier lead from teammate Jari-Matti Latvala with Andreas Mikkelsen coming in third. With only three rallies remaining this season, Volkswagen can no longer be caught at the top of the overall standings.
