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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.

Unrestored '56 Porsche Carrera lands a spot at Pebble Beach concours

One Porsche at this year's Pebble Beach Concours d'Elegance will be making its second appearance. And it will be easy to find--it's the one that looks a bit used. The 1956 Porsche 356 1500 GS Carrera coupe made its Pebble debut in 1956 at the road races.

New 2014 VW Golf R gets 296bhp – first photos

The 2014 Volkswagen Golf R (pictured) revealed ahead of its Frankfurt debut We had expected the new Volkswagen Golf R to debut at Geneva this year, but that debut turned out to be the rather disappointing Mk 6 VW Golf R Cabrio, that not only sacrificed 4WD but came at a silly price (which VW subsequently dropped by more than £5k). But this time there’s no mistake, and the 2014 version of the VW Golf R – complete with 4WD, we’re pleased to say -will arrive next month at the Frankfurt Motor Show before going on sale in early 2014. Under the bonnet the 2.0 litre petrol turbo delivers a healthy 296bhp (300PS) and 280lb/ft of torque which is sent to all four wheels through VW’s latest Haldex 4Motion 4WD, with the ability to decouple the back axle drive under low load conditions and send almost all the power to the back wheels too when demanded.