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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.

Jaguar C-X16 concept scoops 'Design Concept of the Year' award

The Jaguar C-X16 concept car has won Design Concept Car of the Year at the 2012 Scottish Car of the Year Awards. The two-seater concept – which acted as a teaser for the recently revealed production F-Type model – was first seen last year at the Frankfurt motor show and was designed to indicate Jaguar's future design direction. Collecting the award was Ian Callum, Jaguar's Director of Design, who said, "With the C-X16 concept, we set out to move Jaguar's award-winning design language on to the next generation, creating a car that is the very essence of future Jaguar performance." John Murdoch, association president, declared: "Many of these show stunners don't see the light of day but they are valuable for gauging public reaction to new ideas.

American taxi hits 100

By Liz Turner First Official Pictures 04 April 2007 05:35 American taxi celebrates its 100th at the New York Motor Show The US taxi celebrates its centenary at New York this week with a display of the ‘green’ yellow cabs of tomorrow. The rank gathered by The Design Trust for Public Space for its Taxi ’07 display include a lithium-battery powered taxi from Hybrid Technologies, and the world’s fastest taxi. This hydrogen-burning 1000hp Crown Victoria has a projected top speed of 200mph, for Wall Street traders who really can't hang around.