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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.

M25 speed cameras not switched on

Most speed cameras on the M25 have not worked for five years, according to a report in the Sunday People newspaper. Of the 117-mile stretch of London’s orbital motorway, only 3.2 miles between Junctions 2 and 3 in Kent is covered by working cameras. On Bing: see pictures of speed cameras Cars most likely to be caught speeding in the UK The cameras, which sit behind overhead gantries imposing lower speed limits during congested times, haven’t been switched on since they were installed in 2009.

Ram 1500 diesel changes the pickup truck game

It's ironic perhaps that I spent yesterday evening driving a Ford F-150 equipped with the excellent EcoBoost twin-turbo V6 engine. It's got loads of low-end torque and, on paper, its fuel economy is better than that of a comparable gas V8. It even sounds a bit like a diesel…but it isn't.