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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.

Infiniti demands luxury look for Leaf variant

Infiniti executives are taking pains to ensure that their luxury version of the electric Nissan Leaf hatchback will be markedly different and more upscale. This year, U.S. officials of Infiniti reviewed initial designs at Nissan's San Diego styling studio and complained that they simply looked like another version of the Leaf, say people who were there.

It's Viper vs. Viper at the Duel in the Desert

Dodge Motorsports is starting its own celebrity race to rival the long-running Toyota Long Beach event. The Duel in the Desert inaugural Dodge Viper Celebrity Challenge will air on the Versus network on Oct. 9 at 3 p.m.