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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.

2013 Ford F-150 gets Limited model, changes

The Ford F-150 pickup gets a handful of upgrades for the 2013 model year. The key changes include a redesigned center stack, the availability of high-intensity discharge headlamps and the addition of a new range-topping Limited trim. The changes come as rival General Motors prepares to launch redesigned versions of the Chevrolet Silverado and GMC Sierra pickups.

Nissan X-Trail N-TEC+ launched

Nissan has launched a new X-Trail model – the X-Trail N-Tec+ – with ‘Sporty’ looks and extra gadgets. Last year we got the Nissan X-Trail Platinum Edition with all the options ticked and a price of almost £30k, and now we get the sporty version – the Nissan X-Trail N-Tec+ – with more gadgets and extra kit at £27,790. Nissan are trumpeting the X-Trail N-Tec+ as the ‘Sporty’ X-Trail (if that’s not an oxymoron) and pitching it between the Acenta and Tekna versions.