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Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

2011 Audi R8 GT, an AW first look

Three years after it burst onto the supercar scene, Audi has unveiled a hard-core version of its R8 called the GT. Based on the existing mid-engine R8 V10 and incorporating aerodynamic, weight-saving and mechanical developments used by the company's R8 LMS GT3 race car, Ingolstadt will build just 333 copies of the new 560-hp four-wheel-drive performance flagship. Pricing has not yet been revealed, but given the extent of the changes to the new two-seater, buyers should expect a hefty premium over the R8 V10's $147,000 price tag when the GT goes on sale in North America.

‘Lamborghini’ Ferruccio (2008) first official pictures

By Mike Elwin First Official Pictures 01 April 2008 10:57 This is the Lamborghini that never was: the stillborn Ferruccio project that has just been put on ice owing to a lack of orders. Designed by Italian coachbuilder Magvisio, the Ferruccio was a rebodied Murcielago LP640 and would have been faster than any current car wearing the Lamborghini badge, with a claimed top speed of 230mph. Although not an official Lamborghini project, Sant'Agata was monitoring the scheme ‘with interest’, according to its creators.Magvisio specialises in customisation jobs for private clients, and the Ferruccio was to be its first stab at designing a car from the ground up.