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News watch August 2010: today's industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourTuesday 31 August 2010• HSBC has sold its US car loan business to Spanish bank Santander, for an estimated £2.6bn in cash and assumed debt. The move sees the bank further distance itself from the collapsed US sub-prime market (Financial Times, subsription required) • Toll roads do not improve congestion, according to the Campaign For Better Transport. Its claims M6 toll road operator Midland Expressway Ltd is losing ‘tens of millions of pounds’ each year, while conditions on the original M6 have failed to improve (Campaign for Better Transport) Friday 27 August 2010• Spyker, which bought Saab earlier this year, has posted a €139m loss after tax in the first half of 2010 it announced today (Financial Times)• Fiat CEO Sergio Marchionne says the business is performing strongly in the third quarter – and has ruled out selling Alfa Romeo.

Pontiac G8 may get a second life as the Chevrolet Caprice, Lutz says

The Pontiac G8 may get a new life as the Chevrolet Caprice. General Motors is studying the feasibility of reusing the rear-wheel-drive performance sedan for law enforcement and the general public, vice chairman Bob Lutz said in an online chat Monday. “The G8 has finally been discovered by a broader percentage of the buying public,” Lutz said on GM's FastLane blog.

Porsche Cayenne Hybrid (2007): first official pictures

By Ben Pulman First Official Pictures 26 July 2007 04:57 A Porsche hybrid? That's right, and CAR Online has just returned from a visit to Weissach - Porsche's R&D HQ near Stuttgart - where we were given the full lowdown on the Cayenne Hybrid. Porsche's hand has been forced by the current public and political climate surrounding CO2 and global warming - and the company has taken the unusual step of showing its prototypes even though they're a few years from production.