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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.

Suzuki Swift Plug-in Hybrid at Tokyo

The Suzuki Swift Plug-in Hybrid Latest to announce their Eco offering is Suzuki, with the Swift Plug-in Hybrid. Principally designed to be an electric car, the Swift plug-in also has a small petrol engine which, when the charge in the lithium-ion batteries is depleted, kicks in to recharge the batteries, rather than drive the car. This is similar to the system implemented in the Opel Ampera and the Jaguar XJ Limo Green with the Lotus Range Extender setup.

Chinese storm the US

By Liz Turner Motor Industry 14 January 2008 21:31 Two years ago, the Chinese manufacturer, Geely, parked a single saloon in the foyer of the Cobo Exhibition Centre for the auto show press day. This year five Chinese manufacturers are presenting their wares, and all have ambitions to start selling them here. Some are seeking co-operative deals with established companies, but none want the role taken by Chery, producing cars designed and engineered by Chrysler.