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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.

Peugeot HR1 Concept – Peugeot 2008?

The Peugeot HR1 Concept At first glance you could be forgiven for thinking that the Peugeot HR1 concept is a Nissan Juke. It has that same funky feel the Juke does. And in truth it’s a very similar car.

Pace cadets: At AMG academy, students take their finals with their right feet

Mercedes-Benz USA launched the AMG Challenge in 2002, a program touted as "a chance to experience the thrill of driving the newest Mercedes AMGs on some of America's best racetracks." This year, MBUSA abandoned the Challenge in favor of the AMG Driving Academy, a multistage driver-development program pioneered by AMG in Europe. The difference? According to Greg Clark, AMG manager, "the Challenge was more about the cars, while the Academy is more about the driver." Having participated in both the Challenge and now the Academy, we'd say that difference is subtle, at least as it applies to the one-day program.