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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.

Chrysler and Fiat get a new logo, Dutch incorporation, UK tax shelter

Chrysler Group reported an increase in earnings for the fourth quarter as the launch of the2014 Jeep Cherokee and higher U.S. sales helped the automaker to its third straight annual profit. In a separate announcement today, Chrysler and Fiat said their combined company will be renamed Fiat Chrysler Automobiles NV.

More Lamborghini Aventador video goodness: Roman holiday

Hot on the heels of its apocalyptic drive video, the brand-new Lamborghini Aventador LP700-4 once again graces us with its presence in two new videos highlighting the sights of Rome and the Italian countryside. Not to be shown up by world-famous architecture and history, the new 700-hp $379,700 supercar casts a striking contrast against storied Italian landmarks as it shows its prowess in both city and country settings. The first video shows a spirited jaunt through Rome, where two Aventadors look perfectly at home.