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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.

Audi A8 facelift revealed ahead of Frankfurt Motor Show 2013

Audi is pulling weight out of its A8 limousine and sticking in more power in an effort to stem the expected upsurge from Mercedes-Benz’s all-new S-Class, also being unveiled for the first time at the 2013 Frankfurt Motor Show. The all-wheel drive Audi, which is the top-of-the-range Audi limo, may only change a little visually but delivers big upgrades in its driver assistance systems, as well as tightening its fuel consumption by up to 10%. Please click the image above to read the rest of this story

Latest GM shakeup shuffles execs in product planning, development

General Motors Co. has reassigned dozens of product development executives and appointed new heads of global product planning, powertrain engineering and quality in its latest departmental shakeup. Responsibility for global product planning moves to CEO Ed Whitacre from Vice Chairman Tom Stephens.