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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.

Ford Ranger Wildtrak – Geneva debut

Ford Ranger Wildtrak - on sale in November It’s not just the Ford B-Max and the Ford Vertrek that are getting an airing at the Geneva Motor Show this week – it’s Ford’s commercial stuff too. Well, Ford’s pick-up crossed with a  car, anyway. Ford are showing off their range-topping Ford Ranger Wildtrak, all butch and blue with a fake rollover bar but a real ground clearance and decent wading depth.

Cattle Baron's Ball makes its return to Detroit

Comedian Jay Mohr, the guys from West Coast Customs and singer Kid Rock will be just a few of the stars at the ninth-annual Cattle Baron's Ball, being held at Joe Louis Arena on Oct. 29. The event that benefits the American Cancer Society moves back to Detroit proper for its annual "cowboy" black-tie event.