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Daimler agrees to unload remaining Chrysler stake

Daimler AG announced today that it has reached an agreement to unload its remaining 19.9 percent stake in Chrysler LLC. "Daimler's remaining 19.9 percent shareholding in Chrysler will be redeemed, and Daimler will forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statement," Daimler said in a prepared statement. All told, Daimler will write off $700 million as a result of the deal, according to the statement.

Video: Porsche previews the new 911

The lineup of debuts expected for this year's Frankfurt motor show include a redesign for the venerable Porsche 911. Now, Porsche has treated us to a little preview, courtesy of a video posted on its YouTube channel that chronicles some final validation and hot-weather testing of the next-generation 911 in Africa. You can catch glimpses of the new car's exterior and interior, as well as some driving footage.

Toyota Urban Cruiser hits the UK

The Toyota Urban Cruiser hits UK Car Showrooms today [ad#ad-1] Toyota’s baby 4×4 – The Toyota Urban Cruiser – hits UK showrooms today after being unveiled at the Paris Motor Show last year. Looking like a Toyota Land Cruiser that’s been through a boil wash, the Urban Cruiser is designed to take sales from buyers of super minis looking for something a bit different. It’s also looking to take sales from drivers of conventional sized 4x4s who love the high driving position, but are looking for something a little more economical in the current climate.