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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.

Londoners 'most likely to fail' driving test

LEARNERS gearing up to take their first driving test are twice as likely to pass in Scotland as those in London, according to analysis of driving test results by a car insurance company. Its analysis reveals that London has the test centres with the four lowest pass rates in the country for first time test-takers. Only 31% of learner drivers in Belvedere passing the first time, while Wanstead (32%), Barking (32%) and Wood Green (33%) were the other lowest scoring centres in the capital, all with first time pass rates significantly below the national average (48%), the study by Privilege Car Insurance found.

Ford opens online reservations for the 2012 Focus electric

People can now place their online orders for the 2012 Ford Focus electric, Ford's first all-electric passenger car. The electric Focus carries a base sticker price of $39,995 including shipping charges, but that price does not reflect any tax credits available. The electric Focus comes standard with MyFord Touch with an eight-inch touch screen, two 4.2-inch color LCD displays in the gauge cluster for EV monitoring screens, and the MyFord Mobile App for remotely monitoring the charge status of the lithium-ion battery.