Wagner Qc1411 Rear Ceramic Brake Pads on 2040-parts.com

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.

BMW recalls 32,000 vehicles for fire risk

BMW is recalling about 32,000 cars and crossovers because the circuit board for the electric auxiliary water pump can overheat. The recall covers the 5-series sedan and Gran Turismo, the 7-series, the X5 and the X6 from the 2008 to 2011 model years equipped with V8 or V12 engines. Two engine fires have resulted from 102 failures, according to BMW.

EyesOn Design 2008

If seeing is believing, then the Detroit Institute of Ophthalmology (DIO) does their share of making new believers annually, including those who are visually impaired. Originally founded in 1972 by Dr. Philip Hessburg and his associates in Grosse Pointe, Michigan, out of a genuine appreciation for fine automobiles, the DIO gives credit to the designers who have given these cars their individual beauty.