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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.

Autonomous cars on British roads by January 2015 – Vince Cable

By Tim Pollard Motor Industry 30 July 2014 09:18 The British government today announced new laws to allow autonomous cars on UK roads by 2015, prompting a review of the Highway Code and new legal measures to make sure driverless cars comply with current motoring law. Business secretary Vince Cable attended an event at the motor industry test facility at MIRA in the Midlands to unveil the measures, which include a £10 million regional fund for cities to apply to become a driverless car test area. Up to three cities will be selected to share the funding for trials that are expected to last between 18-36 months.

Range Rover Sport SVR takes on the Nurburgring – and wins (video)

Range Rover Sport SVR takes on the Nurburgring – and wins (video) We’re not sure at what point a car actually becomes a ‘production’ car, but that’s a tag Land Rover are putting on the new Range Rover Sport SVR as it takes to the Nurburgring and comes away with a time of 8 minutes 14 seconds – the fastest by a production SUV. Land Rover are keen to tell us the lap by the RRS SVR was in a standard production car, by which we assume a car that’s built to the specification announced for the Sport SVR when it arrives next year. That means the full fat 542bhp from its 5.0 litre V8 and performance that is clearly impressive, although Land Rover still hasn’t given us specific performance figures, and certainly enough - together with suspension tweaks – to make it very impressive on road.