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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.

Smog could get worse as more people buy diesels

Britain could see an increase in smog as the popularity of diesel cars increases, warns a leading pollution expert from King’s College London. The smog-like conditions that have descended on the UK over the past week have been caused by dust blown across from the Sahara Desert mixing with harmful pollution in urban areas. This pollution comes from industry, as well as both petrol and diesel cars.

Now it’s the SEAT Mii’s turn to get an auto ‘box

The SEAT Mii City car has followed in the footsteps of the VW Up! by adding an auto gearbox option, but only on the Mii 1.0 75PS SE. The SEAT Mii is the Spanish version of the VW Up!