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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.

GM closes in on Toyota in global sales

General Motors Co. came close to regaining the top spot from Toyota Motor Corp. in a shrinking global auto market during the first half, while No.

Mercedes Vision GLK Bluetec hybrid

By Ben Barry Motor Shows 04 March 2008 17:14 What’s new on the Mercedes stand? Quite a confusingly long list when you include facelifts and revised engines. But the big story is the Vision GLK Bluetec hybrid, a concept SUV with a four-cylinder diesel engine mated to a hybrid module.