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Crunch watch Dec 08: the auto industry in crisis
Wed, 31 Dec 2008By 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.
July Debut For Citroen’s New C1 City Car
Wed, 12 Mar 2014THE BATTLE for hearts and minds in the city has just got hotter with the launch of Citroen’s second generation C1 urban runabout. Although the diminutive French hatch shares much with its Peugeot 108 and Toyota Aygo stablemates, the C1’s bold new exterior look shares more with recent arrivals such as the firm’s new Picasso people carrier. On sale in July, UK buyers will be able to choose from three trim levels with prices ranging from £8,245 for the entry-level Touch to £11,935 for the range-topping Flair.
Orange alert for Seat's fastest car ever
Thu, 06 Mar 2014IF YOU’D like your brand new Seat Leon Cupra 280 a little more orange than the basic colour palette allows, check out this new development from Seat UK. The firm’s British arm has responded immediately to complaints that the fastest Leon ever simply didn’t look crazy enough, thanks largely to its muted choice of colours. Seat UK has reacted with a shockingly orange bodyshell wrap, covering the original finish and protecting it from damage, as well as giving the Leon Cupra’s stunning lines a bit more to shout about.