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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.

Le Mans regulations for 2014 announced

The organisers of the Le Mans 24-hour have announced a raft of radical new rules on the eve of the 2012 race - including the less restricted use of hybrid power for the top-flight LMP1 racers from 2014. The governing ACO (Automobile Club de l'Ouest) unveiled the major changes due in two years' time as the teams start the 80th 24 Heures du Mans event which runs from Saturday 16 - Sunday 17 June 2012. In order to stay in tune with our environmentally-conscious, economically-chastened times, the focus of the alterations is to improve the efficiency of the elite LMP1 cars' technology and cement a link with roadgoing hybrids, as well as making the race cars safer.

Remember this twin-engine, AWD, home-brew Scirocco?

Obviously, the big problem with the VW Scirocco is that its rear wheels aren't driven. Around a decade ago, a guy named Anson decided to solve that problem by shoving a second VW motor in the rear end of his Scirocco. Sure, VW had done it before, but this enterprising do-it-yourselfer spent just $1,800 on the build.