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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.

Hyundai Tucson teased ahead of Frankfurt motor show

Hyundai has released a teaser shot of the next Tucson, which will be shown at the Frankfurt motor show in September. The ute will arrive in the United States early next year, and more specifics will be available closer to launch. It will wear different badging around the world and will be called the ix35 in Europe.

Audi shifts to eight-speeds for most models

A formal press conference probably won't happen until this summer, but we hear that Audi dealers have received their 2011 order guides, and it looks as though the company will be going from 0 to about 70 percent of U.S. sales being eight-speed automatic transmissions. Beginning this fall, the eight-speed will replace today's six-speed automatic in the A4 2.0-liter turbo sedan and wagon, the A5 2.0-liter turbo coupe and cabriolet, the Q5 2.0-liter turbo, the Q7 3.0-liter turbo, the Q7 diesel, the Q7 with the 3.0-liter supercharged V6 and the all-new A8 and A8L with the 4.2-liter V8.