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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.

Vauxhall VXR8 gets new V8

By Ben Pulman First Official Pictures 06 May 2008 10:06 Vauxhall’s VXR8 is getting a new V8. The latest bent eight – designated LS3 – gains an extra 195cc to take power up to 425bhp. The 6.2-litre V8 is same engine that has also found its way into the revised Corvette and Pontiac’s version of the VXR8, the G8.

New Vauxhall Meriva (2010) spotted

The 2010 Vauxhall Meriva testing at the Nurburgring This Meriva is an all new design and follows the family theme set by the new Astra and Insignia. But we think it’s a bit of a ringer for the new Kia Venga we saw at Frankfurt last week. Still, there’s a limit to what you can do with a set criteria and a five-seat MPV, so that’s no huge surprise.