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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.

Range Rover Evoque gets cheaper in USA

Land Rover has introduced a new entry-level Range Rover Evoque for the US with fewer toys and a lower price tag. It’s quite hard to believe that the USA has taken to the Range Rover Evoque considering their love for full size SUVs and their general feeling of unease about the reliability of Land Rover’s products. But take to the Evoque they have, although perhaps not quite in the numbers Land Rover would like.

Jaguar F-Type to get V8 engine option

The Jaguar F-Type will get a V8 powerplant in addition to a supercharged V6 when it launches in 2013, Autoweek has learned. The much-anticipated two-seat sports car was confirmed in April at the New York auto show. Jaguar then elaborated weeks later at the Beijing motor show that the F-Type would get a supercharged 3.0-liter V6 pushing out 380 hp.