Land Rover Discovery (1994-2004) Brake Light Bulb (2) Osram on 2040-parts.com

Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Ferrari Special Projects develops latest custom

Ferrari's Special Projects team is developing its fifth car for Ferrari collector and petro-chemical magnate Cheerag Arya, dubbed the Arya SP. Arya, who has seven Ferrari's including a 599 GTO and 599 XX, signed off the design after being shown twelve design sketches and now a clay model has been approved and development is set to begin. "I told the designers what I wanted and they presented me with a total of 12 designs.

Concept Car of the Week: Volvo Tundra (1979)

With Volvo beginning a new chapter in its design history with the Concept Coupé, it's interesting to look back at another Volvo coupé concept from 1979 – the Tundra. At the time, the Swedish manufacturer built large and relatively pricey cars that were neither really luxurious nor real 'people cars'. The 340 series began the brand's expansion towards more affordable models and proved to be very successful worldwide.