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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.

The Racing Reverend takes to the track in historic Jaguar

We're used to seeing a little fire and brimstone at the various NASCAR races across the country. That traveling circus is most at home when it swings through the heart of the Bible Belt. But when the English drivers of historic race cars start Tebowing at the finish line, it must be a sign.

Next Hyundai Sonata introduced in Korea

Hyundai revealed its redesigned 2015 Sonata sedan in South Korea on Monday. Until now all we've seen are teaser shots of the company's second-best selling vehicle, which falls behind the smaller Elantra in sales by about 5,000 units per year. It will make its North American debut at the New York auto show in April.