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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.

Lotus Evora GTE Road Car Concept (2011) news

Lotus will show the most sporting, toughest Evora yet - the GTE Road Car Concept - at the 2011 Pebble Beach car show this week. As the name implies, it's borne out of the Evora GTE race programme, which sees Lotus's mid-engined 2+2 compete at races across the globe, culminating in the 24-hour race at Le Mans. Lotus GTE Road Car Concept: the details The roadgoing GTE show car has 420bhp from its race-fettled V6 petrol engine, driving through a sequential gearbox.

2011 Kia pro_cee’d facelift revealed

The 2011 Kia pro_cee'd facelift arrives - 18 months after the Kia cee'd 2011 Kia pro-cee’d facelift revealed does rather imply that Kia has had a hand in teasing a facelift for the grammatically-challenged pro_cee’d. But they haven’t. This reveal of a facelift for the three-door cee’d comes courtsey of the Kia World forum who have managed to get their hands on a few images ahead of an official reveal.