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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.

Alfa Romeo teases production 4C sportscar

Alfa Romeo has revealed the first official teaser image of its 4C sports car. The 4C, which is expected to debut in March at this year's Geneva Motor Show, was first seen in concept form at the 2011 edition of the show. The image shows a set of alloys that also featured on the concept, indicating that the production version shouldn't be much different from the concept.

Ferrari 458 Speciale (2013) at Frankfurt motor show

More power and pace, less weight and extra helpings of oversteer – here comes the Ferrari 458 Speciale. Regular customers will be reaching for their bank cards and road testers will be jockeying for a test drive of the extreme 458, because Ferrari has taken the most thrilling mid-engined car on the planet and turned the volume up to 11. The 458 Speciale follows in the smokin’ tyre tracks of the 360 Challenge Stradale and 430 Scuderia, in being the maximum attack version of Ferrari’s current mid-engined V8 berlinetta.