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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.

Coventry University MA Design Degree Show 2003

The projects on show cover the full spectrum of vehicle concepts. Particular topics this year were environmentally friendly hybrid supercars, urban microcars and future cars for China. The course has a strong international presence, with students from Brazil, Belgium, China, Taiwan, Finland and Australia among this year's graduates and this contributed to the wide variety of work on display.

VW Tiguan 2010 Facelift

The facelifted VW Tiguan unveiled in China Volkswagen does big business in China, and has done for longer than probably any other Western car maker. We recently reported that VW has sold 5 million cars in China over the last 25 years, and that rate of sales is climbing rapidly. So it’s no real surprise that VW has revealed a facelifted Tiguan at this week’s Guangzhou Auto Show in China.