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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.

Drayson breaks electric land speed record - Video

The Drayson Racing Technologies Lola B12/69 EV electric race car hit a top speed of 204.2 mph at a racetrack at RAF Elvington in Yorkshire, England, smashing the previous record of 175 mph set by Battery Box General Electric in 1974. Fittingly, Lord Paul Drayson was behind the wheel. In order to qualify for the attempt at the electric land speed record, the vehicle had to weigh less than 2,204 pounds (1,000 kg) without the driver.

New Range Rover Sport set to debut at New York Auto Show

It looks like the 2014 Range Rover Sport – the Sporty take on the new 2013 Range Rover – will debut in a month’s time at the New York Auto Show. The new Range Rover debuted at last year’s Paris Motor Show, and we had expected Land Rover to debut its sporty sibling – the new Range Rover Sport – at this year’s Frankfurt show in September. But it now looks like Land Rover are planning to get the 2014 Range Rover Sport in the public eye at the 2013 New York Auto Show instead.