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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.

To Infiniti and beyond at Goodwood

LUXURY Japanese car maker Infiniti gave the UK public something to savour at the Goodwood Festival of Speed, with a high-octane combination of well-known faces and high-speed timed runs up the famous hill-climb. Christian Horner, team principal of Formula One team Red Bull, took turns at the wheel of the 568-horspower Infiniti Q50 Eau Rouge prototype, sharing driving duties with professional racer Sébastien Buemi. Members of the public queued for access to the road-going Q50 range, which was also on offer for hill-driving duties, and some were even treated to a turn in the FX Vettel Edition: a chunky SUV with handling and performance tuned with the direct input of four-time F1 world champion Sebastian Vettel.

Lexus RX (2009) revealed in brochure blunder

By Chris Clarke First Official Pictures 30 October 2008 15:34 Lexus has let slip pictures of its new RX after a Japanese brochure was seemingly leaked ahead of the car’s launch. We weren’t supposed to see the 4x4 until the November 2008 LA auto show, but we’ve tracked down the photos of the new Lexus RX early. They certainly look it and insiders at Lexus GB suggest they are genuine.