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News watch August 2010: today's industry news
Thu, 26 Aug 2010Welcome 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.
Collector electrifies a 1955 LaSalle Roadster
Fri, 29 Oct 2010Just months after Joe Bortz's unveiling of the restored 1955 Chevrolet Biscayne, the auto archeologist and collector is moving into the second phase of restoration with another General Motors Motorama concept car: the 1955 LaSalle Roadster. But here's the key difference--the LaSalle is going electric. As the LaSalle's motor was never completed, the roadster is considered a “push mobile.” To prepare the car so that it can be driven--rather than pushed--on the road, Bortz has teamed up with Pioneer Conversions, an Illinois business focusing in the electric conversion of various vehicles.
2015 Corvette gets luxury Atlantic and track-focused Pacific options
Mon, 28 Apr 2014Chevrolet will offer two special packages on the 2015 Corvette Stingray when it hits dealerships later this year. The Atlantic convertible features a luxury/GT-focused option, while the Pacific will be a track-focused coupe. “One of the design goals for the Corvette Stingray was to provide customers with the flexibility to tailor the car to their personality,” said Kirk Bennion, Corvette exterior design manager.