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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

Subaru BRZ Concept STI teases production BRZ at L.A.

Subaru BRZ Concept STI at the Los Angeles Auto Show The Subaru BRZ (and for that matter its sibling, the Toyota FT-86) has been floating around in one form or another as a concept for years. And at Los Angeles we get treated to yet another ‘Concept’ version – the Subaru BRZ Concept STI. Which does seem a bit odd; after all, the production version of the BRZ is scheduled to arrive later this month at the Tokyo Motor Show, and we know from the teaser shots Subaru sent us of the production BRZ that there are changes from this Concept.

Hummer bought by Sichuan Tengzhong

Hummer is to be bought by Chinese Company Sichuan Tengzhong Heavy Industrial Machinery. We’ve got used to quite a number of Chinese car companies lately. BYD have been in the news with their MOU with VW, and BYD has also hit the headlines with its new car battery technology for EVs and of course its 2.0 litre clone Porsche Cayenne.