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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.

Peugeot 2008 Compact Crossover SUV at Paris 2012

Peugeot are taking the 2008 Compact Crossover to the Paris Motor Show previewing the forthcoming small SUV based on the 208. Peugeot may have suffered the ignominy of being dumped from France’s elite stock market listings, but that isn’t going to stop the French car maker making something of a show on their home turf at the Paris Motor Show this month. We’ve already confirmed that Peugeot are taking the production versions of the new 208 GTi and 208 XY to Paris, and they are also taking the hybrid supercar Peugeot Onyx Concept.

Chrysler's product plan: Tweaks, then tidal wave

Chrysler Group's product renaissance is a drama in two acts. First, the company is breathing new life into its existing lineup. Highlights include the redesigned 2011 Jeep Grand Cherokee, which the automaker started shipping to dealerships in early July, and the re-engineered and restyled Chrysler 300 and Dodge Charger rear-drive sedans, both coming in the first quarter of 2011.