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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.

2011 Audi A6 leaks

The 2011 Audi A6 leaks out The next Audi model due for a change is the Audi A6, amd Audi started out this last few days with a blurry teaser image of its new E-Class / 5-Series competitor. But we didn’t bother to run it - although we should have – as it just seemed a bit pointless. But now we get the first official photo leaking out courtesy of Autoblog.nl, so we get the real deal instead.

Peugeot HYbrid3 Evolution concept (2009) revealed

Peugeot’s car division has lagged miles behind rivals when it comes to hybrids – its first doesn’t go on sale until 2011. But it’s all different on the bike side of the company, which could be among the first to introduce a hybrid scooter. The three-wheel Hybrid3 Evolution has a supercharged 300cc petrol engine that sends 41bhp to the single rear wheel, and a pair of electric motors delivering a total of 8bhp to the twin front wheels.