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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.

Future products: Kia seeks lively, upscale look

Kia's redesigned Optima sedan and the Cadenza replacement for the Amanti, both due next year, reflect an emphasis on creating a livelier and more upscale look for the once-bland brand. Indeed, styling has been a crucial element of Kia's new-product push in the past 18 months. The team at Kia Design Center America near Los Angeles--part of the automaker's global design network led by onetime Audi design chief Peter Schreyer--has helped set the new styling direction.

Mini reveals John Cooper Works Concept at Detroit auto show

Today at the Detroit Auto Show Mini debuted the new 2014 John Cooper Works Concept. The JCW (as the cool people call it) is the performance version of the Mini, and the debut of the concept included a rock band and impressive amount of smoke courtesy of a fog machine. The JCW concept was decked out in traditional John Cooper Works style, and that meant an exclusive color scheme with red color accents over Bright Highways Grey paint, and 18-inch light alloy wheels.