Chrome Batman Emblem Car Tire Valve Stem Air Dust 4x Cap Cover Wrench Key Chain on 2040-parts.com

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-Benz S 600 V12 revealed at Detroit Motor Show

The Mercedes-Benz S-Class is unofficially known as the best car in the world… and the firm has now revealed the model that could make that title official – the new V12-engined long-wheelbase S 600 range-topper. Boasting a 530hp 6.0-litre biturbo V12, the new S 600 can accelerate from 0-62mph in just 4.6 seconds… but, thanks to ECO stop/start, it can also average over 25mpg, a 21% improvement on the old car. Just as importantly, it also promises an unparalleled luxury car experience.

Seat IBL concept car (2011) at Frankfurt motor show

Seat is sometimes described as Spain's answer to Alfa Romeo. And if that's the case, then the new Seat IBL concept car is surely a 159-influenced take on what future Seat road cars could look like. The IBL concept is another ideas car from Seat – an exploration of what to expect from future models.