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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.

Jeep to use Fiat platforms starting in '13

Jeep's small SUVs will use Fiat-supplied platforms starting in 2013, Jeep brand CEO Mike Manley said on Wednesday. Jeep will eliminate the Patriot and Compass crossovers after 2012 and replace them with a single C-segment vehicle whose platform will originate with Fiat Group. Jeep also will introduce a B-segment small SUV in 2013 with a Fiat platform.

2011 VW Jetta gets launched

The 2011 Volkswagen Jetta Volkswagen reckons that this latest Jetta is no longer a Golf with a boot to make a saloon but is instead a completely new stand-alone model, even though under its new skin – inspired by the VW NCC (New Compact Coupe) concept at New York this year – it sits on a stretched (by 70mm) Golf platform. To make the Jetta stand apart from its Golf sibling VW has fitted the Jetta with an all new dashboard with aluminium highlights and a leather trimmed steering wheel. All Jettas will come equipped with AirCon and CD stereo with touchscreen SatNav an option.