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Chrysler posts $370 million net loss on costs tied to repaid loans

Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans. Chrysler incurred a charge of $551 million in paying back the U.S. Department of Treasury and the Canadian loans that kept the automaker afloat in 2009.

Toyota Yaris Hybrid (2012) first official pictures

This is the new Toyota Yaris Hybrid, and although it’s been unveiled on the same day as the world’s motoring media descends upon Detroit for the 2012 North American International Auto Show, it's not there. Instead, the new Toyota Yaris Hybrid won’t actually appear until the Geneva show in early March 2012. Presumably the Toyota Yaris Hybrid is even cleaner and greener than the pious Prius?

Early Mercedes sells for £720,000

ONE OF the oldest surviving Mercedes cars has sold at auction for an astronomical fee. The Mercedes Simplex 28/32 HPs Phaeton eventually sold for £720,000 at the Coys auction house True Greats sale in London. Still in complete and roadworthy condition, the car was reported to be in superb, drivable condition before its sale, which was the first time it had been auctioned in its near-109-year life.