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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.
Audi plans range of eco-friendly vehicles, report says
Fri, 16 Jan 2009The British magazine Car reports that Audi's top executives have approved plans for an entire range of environmentally friendly vehicles to be launched over the next six years. The eco-friendly lineup includes five vehicles, dubbed E1 through E5, according to the report. The range includes a small city car, dubbed the E1, that will use the platform shown with Volkswagen's Up concept but with an entirely new body design.
Asda sparks new fuel price cuts
Tue, 29 Oct 2013SUPERMARKET Asda has sparked a likely petrol price war by announcing further cuts. Asda said that drivers filling up at its forecourts from tomorrow (Wednesday) will pay no more than 126.7p a litre for petrol, with diesel priced at 133.7p. Jeremy Walton, head of petrol trading at Asda, said: "Our shoppers don't have to figure out complicated deals and collect vouchers to get the best price; they simply pay what they see at the pump.