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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.

Project Car Hell, Genuine Muscle Cars Edition: AMC Rebel Machine or Mercury Cyclone Spoiler II?

Once again, the hinges of the Hell Garage gates -- lubricated with the purest Unobtainium-239 -- creak open and bring us to another installment of Project Car Hell. Last week, we offered two options for your eternal torment, a straight-8 Packard and a straight-8 Buick, and we just love those classic Detroit cars! So much so, in fact, that we're going to stick with Detroit (well, Detroit and Kenosha, if you want to split hairs) and fast-forward the calendar a couple of decades to the Golden Age of Muscle Cars.

Smart Fourjoy concept stars at the 2013 Frankfurt Motor Show

Smart is here at Frankfurt 2013 with an intruiging and innovative new car, called the Fourjoy concept. Unusual name, yes, and an unusual design as you’ll see – but the technology underpinning this car could be pushed forward as the basis of the next generation Smart Forfour due in 2014, including the all-electric powertrain.