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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.

Mercedes E63 AMG revealed ahead of New York

The 525bhp Mercedes E63 AMG has been revealed ahead of the New York Motor Show So this is the Mercedes Benz E63 AMG, finally shown in all its glory after a serious of teases in the run-up to the official unveiling next week at the New York Motor Show. But make the most of it. The way the world is moving at the moment the next generation E63 AMG will probably have solar panels, an elastic band and a windmill on its roof!

Rock Legend Swaps Microphone For Classic Racing Mini

NOT content with belting out hard rock tunes, AC/DC front man Brian Johnson will son be charging around Croft racing circuit at the wheel of a classic Mini. The rock great is scheduled to compete at Croft’s Nostalgia Weekend (2-3 August), which the circuit is describing as an irresistible blend of fast cars, wheel-to-wheel racing, vintage music and dress. Johnson will take to the circuit in the Historic Touring Cars class behind the wheel of a 1964 Mini Cooper that he purchased late last year after driving it in his television series ‘Cars That Rock With Brian Johnson’.