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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.
Citroen C5 (2012) facelift first pictures
Mon, 02 Jul 2012Citroen has upgraded the C5 with what must go down as one of the lightest facelifts yet seen on a 'new' car. However, there's been more significant change beneath the surface, headlined by a fresh satellite navigation interface. Is this really a new 2012 Citroen C5?
Ford performance-vehicles boss jumps to Volkswagen position
Thu, 29 Mar 2012Jost Capito, Ford's global performance-vehicles and motorsports chief, is jumping to Volkswagen to run the German automaker's motorsports operations. Ford is in the process of launching high-performance versions of some of its newest cars, including the Focus ST. The company also has a version of the Fiesta ST as a concept.