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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.

Cadillac reveals second-generation SRX crossover

Cadillac unveiled the next-generation SRX crossover, a vehicle the company says is redesigned from the ground up and offers new, more-efficient engine choices. The 2010 SRX mid-size will be shown at the North American International Auto Show in Detroit next week. Cadillac says the SRX is aimed directly at Lexus' new RX crossover.

New Kia Cee’d & Procee’d GT Turbo Geneva 2013 debut

Kia will launch the Cee’d & Pro_cee’d GT at the 2013 Geneva Motor Show with a 200bhp Turbo engine and cosmetic tweaks. We’ve already revealed that Hyundai are planning a turbo version of the i30 3-door (perhaps the Hyundai i30 R?) and Kia are following suit to with go-faster versions of the new Cee’d, new Pro_cee’d and, it appears, even the new Cee’d Sportswagon. The plan is to kick of with the launch of the Cee’d GT and Pro_cee’d GT at the 2013 Geneva Motor Show, with every possibility Kia will also launch a Cee’d Sportswagon GT later in 2013.