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Infiniti sets up global HQ in Hong Kong

Nissan Motor Co. is establishing a new global headquarters for its Infiniti luxury brand in Hong Kong, in a nod to the surging sales it expects from China. Infiniti, which is not sold as a separate brand in Japan, is currently run out of Nissan's worldwide office in Yokohama, Japan.

Chrysler, Hyundai-Kia, VW lead industry to 14 percent sales gain

U.S. auto sales--led by big gains at Chrysler Group, Hyundai-Kia, Mercedes-Benz and Volkswagen--rose 14 percent last month for their biggest increase since April. On a seasonally adjusted annual basis, sales reached 13.6 million units last month.

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.