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News watch August 2010: today's industry news

Welcome 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.

Willie Nelson tour bus headed to auction in Toronto

Now here's a smokin' deal! One of country music singer Willie Nelson's tour buses is headed for the auction block next month. The 1986 Eagle Model 10 motor coach includes beds for six people, two lounge areas and hand-painted murals by the artist Rainmaker.

VW E-Bugster concept unveiled at 2012 Detroit show

Volkswagen has designs on expanding its Beetle family - and the new 2012 VW E-Bugster gives us a few clues to what's in store. As the name suggests, the E-Bugster is an electric Beetle, showcasing Wolfsburg's new e-powertrain coming to the Golf and other family members sooner than you might think. The Golf Blue-e-motion goes on sale in 2013.