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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.

Kia pro_cee’d GT: Official

The Kia pro_cee’d GT has been officially revealed and will debut at the 2013 Geneva Motor Show alongside the new cee’d GT. But although Kia has sent us details of their new warm hatch, they haven’t exactly given us extensive detail. In fact, apart from a set of photos of the new pro_cee’d GT, we have little more than yesterday.

Production Peugeot RCZ R revealed ahead of Goodwood FoS debut

Production Peugeot RCZ R (pictured) revealed Peugeot promised a more powerful RCZ – the RCZ R – at the Paris Motor Show last year, and subsequently confirmed it would arrive at the 2013 Goodwood Festival of Speed. Now, with the FoS kicking off today with the Moving Motor Show, Peugeot has revealed photos of the production RCZ R – painted in sporty red – and given us some proper specs. As we already knew, the RCZ R makes use of the PSA/BMW 1.6 litre turbo petrol the regular RCZ already has, but in the R’s case Peugeot has managed to turn the wick up to 11 and delivered 270bhp.