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Crunch watch Dec 08: the auto industry in crisis
Wed, 31 Dec 2008By 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.
New Honda Fit to have three body styles
Fri, 07 Dec 2012Honda Motor Co. plans to build three variants of its Fit compact, including a sedan version, at its Mexican plant currently under construction. The two other variants are the standard hatchback and a Fit-based crossover, said an executive familiar with the plans.
Ferrari FF: The Video
Sat, 22 Jan 2011The Ferrari FF Video Yesterday saw the first details of the replacement for the Ferrari 612 Scaglietti surface. We’d heard rumours – all revolving round a Shooting Brake Concept – but it was still a bit of a surprise to see the reality that is the Ferrari FF. Ferrari seem intent on pushing the boundaries of what is an ‘acceptable’, and according to much of what’s been commented on the Interweb after Ferrari revealed the FF yesterday, they may have gone a step further than many would like.