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Fiat gets approval to purchase Bertone coachbuilding business
Thu, 06 Aug 2009Fiat S.p.A.'s bid for Carrozzeria Bertone S.p.A. was approved Thursday by the Italian government. Fiat will invest $215.9 million (150 million euros) over three years in the struggling contract manufacturer that has produced models ranging from the Lamborghini Miura to the Volkswagen Polo during its 96 years in business.
Crunch watch Apr 09: the auto industry in crisis
Thu, 30 Apr 2009By Tim Pollard and Ben Pulman Motor Industry 30 April 2009 17:21 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Thursday 30 April 2009• It's official: president Barack Obama confirms this afternoon Chrysler will file for Chapter 11 bankruptcy protection as it strikes a patnership with Fiat (Automotive News, subscription required)• 'Over the past month, seemingly insurmountable obstacles have been overcome,' says Obama. 'Chrysler and Fiat have formed a partnership that has a strong chance of success' • Chrysler is filing for bankruptcy protection under Section 363(b) of Chapter 11 bankruptcy code – expected to last for 30-60 days (Detroit News)• Treasury to pay Chrysler $4.5 billion 'in exit financing'• Chrysler tipped to get new board of directors.
Audi R18 TDI dominates Le Mans 2011 test day
Tue, 26 Apr 2011Le Mans echoed to the sound of racing cars on Easter Sunday as teams took part in the sole scheduled test day, and Audi's new R18 coupe dominated the LMP1 class. Le Mans 2011: classes and rules changes The Automobile Club de l'Ouest (ACO), the organisers of the annual 24-hour race, made several changes to the competition classes and technical specifications for Le Mans 2011, aimed at reducing costs, raising lap times and ending the dominance of turbodiesel endurance racers. Out went V10 and V12 engines in the LMP1 (Le Mans Prototype) class, and in came new capacity limits for all engines, intake restrictors and lower turbo boost limits on existing turbodiesels. Naturally aspirated petrols units are now limited to 3.4-litres, turbo'd petrols can be no bigger than 2.0, and turbodiesels are restricted to 3.7-litres.