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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.

College Exhibition: RCA/VW - Day and Night

Vehicle Design students at the Royal College of Art in London, UK, started work on a project sponsored by Volkswagen in October last year. Asked to research and visualize future market sectors and the needs, aspirations and desires of potential users; VW's brief to the students was to create a vehicle which had an innovative, integrated interior to reflect the research the students conducted, in a space that had equal value both in the daytime and at night. The brief also called for new space concepts for the person/machine interface through new functions and new packaging of components.

Audi sets 2012 A7 prices for U.S.

The 2012 Audi A7 hits U.S. showrooms later this month with a sticker price of $60,125, including the destination fee. The four-door is largely unchanged from 2011.