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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

MINI Clubvan AXED in the US after just 50 sales

The MINI Clubvan (pictured) has been axed in the US after just 50 sales The MINi Clubvan – a van version of the Clubman – arrived in 2012 as a concept and instantly evoked fond memories of the original Mini van that used to roam UK roads with the black and yellow livery of the AA. By the time the new MINi Clubvan arrived as a production model last summer – and debuted at the 2012 Goodwood FoS – it had changed little from the concept, but looked set for success as a funky little local delivery vehicle. And it does seem as though the Clubvan is selling quite well, with florists and posh food delivery firms jumping on the Clubvan as a great way to move their product to customers, and look just that bit different in the process.

Chrysler to build four versions of Fiat 500 for U.S. market

Chrysler will build and sell four versions of the tiny Fiat 500 in North America starting in 2011: a hatchback, a convertible, a station wagon and a sporty hatchback. A fifth model--a small, four-wheel-drive SUV--also is possible. They will wear the Fiat brand.