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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.
Mercedes E Class Cabriolet – Detroit catch-up
Fri, 15 Jan 2010The Mercedes E-Class Cabriolet was launched at the Detroit Motor Show this week It’s easy to forget that a car has not officially launched when we’ve already reported on most of the detail. Such is the case with the new Mercedes E Class Cabriolet. Mercedes released lots of information on the E Class Cabrio back in December, but this week at the Detroit Motor Show was the first public reveal, so we thought we ought to report it.
Turin Dream Exhibition
Mon, 17 Nov 2008The 'Dream' exhibition currently taking place at the Giovanni Agnelli Pavilion Esposizioni in Turin is a stroll through almost 60 years of creativity, which convinced the world of carmakers - and consumers - to accept new stylistic features; demand greater performance and safety; and to create new ways to adapt car interiors to the many demands of business and leisure. One of the main events commemorating Torino 2008 World Design Capital, there are 54 one-off examples and three-dimensional objects on view in the 12 galleries, piazza and atrium, including projects from local design schools Instutito Europeo di Design (IED) and the Istituto d'Arte Applicata e Design di Torino (IAAD). IED is showing two projects created by students on its post-graduate course in Transportation Design: the Fiat Panda from 2007 and the 2008 BMW ZX6 - a thesis project created selected as the main photo of the exhibition.